Welcome aboard Alan! I've said this for 27 years: we repeat our grandfathers' errors. Now AG is where I was 27 years ago. AG now tells us the Fed is not independent. Anyone who knows US monetary history should know of the "period of the peg", from about 1942-46. During this time the Fed held long-term interest rates at 2.5% to finance World War II. The Fed has never been independent. It was never intended to be.
Suggested reading: Sidney Homer's History of Interest Rates and Karl Marx's Communist Manifesto (CM). Marx? Plank 5 of the CM reads, "Centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly". Marx favored a "flexible currency" and central bank! To think, AG was a central banker, and a libertarian. Wow! What Orwellian "doublethink".