What public policy recommendations would you make to avoid the following faults:

1. The Federal Reserve has far too much economic power and influence.

In the United States, monetary policy is decided and implemented by the Federal Reserve, the country's central bank. As a result, it wields significant economic power and influence. The Federal Reserve, for example, can influence both the inflation rate and the interest rate.

2. The Federal Reserve does not provide enough transparency about its activities and decisions. The Federal Reserve is not required to disclose its discussions or the reasoning behind its actions and decisions. This lack of transparency can lead to a lack of accountability, which can contribute to public mistrust of government officials.

3. The Federal Reserve is well known for bailing out large financial institutions while ignoring the needs of smaller financial institutions. During times of crisis, the Federal Reserve has been accused of favoring larger financial institutions over smaller ones and, as a result, of ignoring those smaller institutions. As a result, many people believe that, in making policy decisions, the Federal Reserve prioritizes the needs of large institutions over the needs of the general public.

4. It is widely accepted that the Federal Reserve manipulates interest rates. The Federal Reserve can have an impact on the direction of interest rates by buying or selling government bonds. This could lead to artificially low or artificially high interest rates, which could be bad for the economy.

5. It is widely accepted that the Federal Reserve creates money out of thin air, which can contribute to inflation. Because the Federal Reserve has the ability to create money out of thin air, its actions can cause inflation. This is because an increase in the money supply reduces the value of each individual currency unit. This could lead to an increase in the price of various products and services.