In response to my other post about The Myth of Nazi Capitalism people seems to have this illusion that the federal reserve bank is independent of the federal govt. This is demonstrably false with plenty of examples. This does not mean that I think trump has control over the fed, trump barely has control over his own cabinet but this is a unique situation we are currently in.
Here are some numerous examples
In 1935 the Fed was reorganized to concentrate nearly all power in Washington. Franklin Roosevelt packed the Fed just as he later filled the U.S. Supreme Court with political sycophants. Roosevelt appointed Marriner Eccles, a strong supporter of deficit spending and inflationary finance, as Fed Chairman, although Eccles had no financial background and lacked even an undergraduate degree. In those years the Fed was really run by Eccles’s political mentor, Treasury Secretary Henry Morgenthau, Jr., and thus ultimately Roosevelt.
Later presidents were no less willing to influence supposedly independent Fed policy. According to the late Robert Weintraub, the Federal Reserve fundamentally shifted its monetary policy course in 1953, 1961, 1969, 1974, and 1977-all years in which the presidency changed. Fed policy almost always changes to accommodate varying presidential preferences.
President Eisenhower wanted slower money growth. The money supply grew by 1.73 percent during his administration-the slowest rate in a decade
President Kennedy desired somewhat faster money creation. From January 1961 to November 1963, the basic money supply grew by 2.31 percent
Lyndon Johnson required rapid money creation to finance his expansion of the welfare/warfare state. Money-supply growth more than doubled to 5 percent
Arthur Burns, was such a staunch supporter of Richard Nixon that he lost all professional credibility by enthusiastically endorsing Nixon’s disastrous wage and price controls. Even though his staff informed him in the fall of 1972 that the money supply was forecast to grow by an extremely robust 10.5 percent in the third quarter, Burns advocated ever faster growth before the election. The growth rate in the money supply in 1972 was the fastest for any one year since the end of World War II and helped re-elect Richard Nixon.
President Ford called for slower monetary growth as part of his “Whip Inflation Now” program, and the Fed complied with a 4.7 percent growth rate
But when Jimmy Carter was elected, Burns again complied with presidential wishes by stepping up the growth rate to 8.5 percent
The Myth of the “Independent” Fed
The federal reserve bank is powerful but that power stems from collusion with the executive branch of the fed govt. The executive is where the most power lies and congress allowed it to be built up over the past decades beyond anything that was ever intended, which is plainly evident from all obama's executive orders that are clearly unconstitutional. If your looking for a conspiracy of jews controlling the US money supply you should start by looking at who was closest to past presidents and how they formed their opinions on economic theory.
The federal govt is a massive behemoth and it's reach and influence has corrupted many institutions which claim independence. Is the NYtimes independent? CNN? AMA? Media, industry, agriculture, finance - all the big shots in the important areas of the economy lost some measure of independence and bow the will of the feds. That's how socialism works.