That said, an extended period of zero remittances could certainly bring the Federal Reserve under criticism from the public and the Congress. The question is whether the Federal Reserve would permit inflation and thereby abandon its post in the face of such criticism. There is no reason to expect that to happen.
The Federal Reserve was created as an independent agency, and a broad consensus has emerged among policymakers, academics, and other informed observers around the world that better overall economic performance is achieved when the conduct of monetary policy is free from political control.10 Of course, we are accountable to the Congress and the American people.