There is one potential flaw with having congress seek more control over the Fed and that is it may give congress the opportunity to directly manipulate the money supply. If politicians make the decisions you can be certain that temporary expediency will replace even a pretense of maintaining sound money.
You also might want to check out a book: “The Great Wave : Price Revolutions and the Rhythm of History” by David Hacket Fisher. It looks back over centuries of government manipulation and debasement of currencies and the results. It might surprise you.
I agree even Ron Paul has expressed his concerns in this area. It is not likely to happen anyway though unless we totally collapse.
"Today, we face another devastating wave of inflation: "after 1975...ratios of wealth inequality reached their highest levels in four centuries of American history....The principal victims [are]...the young people who ha[ve] no hope for the future and no memory of better times in the past. The result [is] a rapid growth of alienation, anomie, confusion, and despair." Fischer combines a lively narrative with cogent analysis and sound advice. Essential for scholarly collections, this fine book will also be appreciated by lay readers.?David Keymer, California State Univ., Stanislaus, Calif."
But today young people are better off then baby boomers that just had all they own devalued. No?