Many people feel the Fed, which is largely independent of Congress and the President, is too powerful. In fact, the Chairman of the Fed Board of Governors, Ben Bernanke, has been called the second most powerful person in the country. Do you think the Fed is too powerful? Should Congress have more oversight of the Fed? Share your thoughts. 2″Neither monetary policy nor fiscal policy alone can be effective in formulating sound economic policies for recession.” Do you agree or disagree? Share your thoughts.