The Federal Reserve, established in 1913, operates independently with minimal oversight, raising concerns about its accountability in a Constitutional Representative Republic. Chaired by Jerome Powell, the Fed does not answer to the President and is insulated from political influence to protect monetary policy. Although it reports to Congress and its officials face congressional committees, the structure remains largely autonomous. Comprising a federal Board of Governors and regional banks, the Fed’s decisions, particularly on interest rates, lack direct control. This independence has led to a functioning system devoid of sufficient checks and balances, prompting calls for significant reform or outright repeal.