Lookup "currency board" as a solution. It takes much of the control away from policy makers if implemented well. Normally suitable for smaller nations, i think it's clear our Fed reserve / gvt partnership has obviously let their parameters expand way too much, from the mission creep of the Fed's mandates to the gvt's unwillingness to live within its means or pass a balanced budget amendment. So a currency board would be a less or non-political entity that takes most of the control away from those two undisciplined and unrealistic institutions. If our Fed was willing to dump those toxic assets onto the GSEs to save politically favored banks, for instance, that suggests they are way to political already, even though they are supposed to be and are (wrongfully) understood to be apolitical. They are very political. Look at Yellen's recent comments about social policy for instance! That's a matter that should be WAY out of bounds for a Fed chief to even broach publicly. It's all gotten way out of hand. Lookup "currency board".
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