The Act, Part II

Wray: "The Fed is a part of government. It was created by an act of congress (1913). Congress can tell it what to do. "

Can you please provide documentation of an instance where Congress issued an order to the Fed on interest rate policy or anything else?

The Fed was created by the consortium of private banks that own it. The Federal Reserve Act did not create it, the Federal Reserve Act hired it. The Federal Reserve Act is a government contract that grants the Fed an exclusive franchise as the only private lender allowed to declare its debt instruments as US legal tender.

Alan Greenspan on PBS in 2007, speaking with Jim Lehrer:

""Well, first of all, the Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take. So long as that is in place and there is no evidence that the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don't, frankly, matter.”

http://www.pbs.org/newshour/bb/business/july-dec07/greenspan_09-18.html