"[RF] raises important issues regarding efforts by some to influence [Fed] policy ... . But he must understand the political backlash against the central bank is partly of its own making. ... Ben Bernanke ... has given the appearance of making the Fed a division of the Treasury. That has politicized the Fed more than anything its critics could do. The only protection from political interference is a monetary rule. The gold standard was one such rule", Gerald O'Driscoll letter to the WSJ, 30 January 2010. Mr. Fisher indicates that he doesn't know that the Fed is already politicized", Don Crook letter to the WSJ, 30 January 2010, link: http://online.wsj.com/article/SB10001424052748704094304575029452385284206.html.
RF is Dallas Fed president. This is nonsense. Congress created the Fed and can kill it. RF talks of "independence". From who? For what? "Nine-member boards of directors" hire and fire Fed heads. Do the Fed heads "represent the financial institutions ... of their respective districts"? Who represents the public? Kill the Fed.