[dragonwriter]

> The Federal Reserve, which is almost completely independent from the federal government, is the biggest player in regards to controlling inflation.

The Federal Reserve Board of Governors, an executive agency of the federal government that is “independent” within government in the same sense as, say, the FCC, and not at all independent from the government, is actually the relevant actor in inflation-control policy.

[aarontait]

Aside from appointing governors, what power does the president have over the federal reserve board? The president can direct/order the FCC to pursue a course of action, but as far as I'm aware, the president doesn't have executive authority over the fed's monetary policy.