In 1951, the Fed-Treasury Accord provided the Federal Reserve with the authority to set monetary policy independent of the Treasury and with the goal of controlling inflation. Was the Fed successful at controlling inflation in the 1960s and early 1970s? Why or why not? An answer would explain how theFed's policies contributed to the increase or decrease in inflation rates that occurred from the mid-1960sthrough the late 1970s in the United States.