I just skimmed the wikipedia article on the Federal Reserve
Jesus, it's complicated. My sense is that Prof. DeLong has the right gameplan on how to utilize the Fed, the Treasury, Fannie Freddie Mae, the annual federal budget, etc. to optimize the American economy. I don't have the same confidence in the various agency heads and high level subadministrators.
But I'd like to know who they are and their analyses and strategies. But starting with the Fed, sheesh, it's complicated. And I guess govenors get appointed to fucking long terms (but maybe 10 years is ideal -I'd prefer 10 year terms for federal judges rather that life appointments).