The Fed Works Because It Has Real Independence

The Fed functions as a non-corrupt technocracy because its officials have guaranteed long terms and it prints its own money to spend, forcing Congress to make a real effort to change anything—'a room of their own'—whereas the FDA and CDC must come to Congress for money annually and serve at the president's pleasure, leaving them in a realm of slack and reflecting Congress's muddled disarray rather than a culture of raw technocracy.