Many people feel the Fed. which is largely independent of Congress and the President is too powerful In fact the chair man to the Fed Board of Governors Ben Bernanke been called the second most powerful person in the country. Do you Fed is too powerful? Should congress have more over sight or of the Fed? Share your thoughts. Solution 1> Fed is considered to be powerful in the United States. It is held responsible for largest financial records and ammendments. It has created many policies helpful for U.S to create a financial power in the world. It has helped to provide aid to many foreign agencies as well. Congress has already considered FED to be powerfuldue to its importance in the states. 2> Niether monetary policies nor fiscal policy can alone be effective in formulating sound economic policies for recession. This is because there has to be an equal source of contribution for procedure to create employment suffiecient enough to balance the GDP of the state. There has to be contribution made by all sources which uplifts the citizens..