There will be no real or genuine audits. Pure window dressing. But a step in the right direction which is a good thing. I have read
The Creature from Jekyll Island from cover to cover. The book was very eye opening but just a beginning.
The Fed is too all powerful, too much in control of everything. They are also in existence as a result of bribery and high level corruption since 1913. Some people even say they have been implicated in several deaths along the way (e.g. JFK) and even the FBI is daunted by their almost absolute power.
You are right. It is a private banking cartel, interlinked with international big banking. Its European branch is the E.U. banking cartel, both branches set up like the La Cosa Nostra. This cartel views the general public as sheep for the sheering, whenever they feel like sheering, i.e. unearned massive profits & power for the CEO's of the Fed.