RE: It’s not part of the judiciary or legislative branch ergo it’s part of the executive branch.
I don’t think that necessarily follows.
The monetary decisions of the Federal Reserve do not have to be ratified by the President (or anyone else in the Executive Branch). The Fed receives no funding from Congress, and the members of the Board of Governors, who are appointed, serve 14-year terms. These terms do not coincide with presidential terms, creating further independence.
However, the Federal Reserve is subject to oversight by Congress, which aims to ensure it achieves the economic objectives of maximum employment and stable prices. And the Fed Chair must submit a semi-annual report on monetary policy to Congress ( NOT the President ).
The primary justification for an independent Federal Reserve is the need to insulate it from short-term political pressures. Without a degree of autonomy, the Fed could be influenced by election-focused politicians into enacting an excessively expansionary monetary policy to lower unemployment in the short-term. This could lead to high inflation and fail to control unemployment over the long-term.
Was there a new amendment I missed? Where is the fed reserve listed as a separate branch of gubbermint?
This is not hard.