https://www.aier.org/article/yes-the-fed-is-a-failure
In my experience, people tend to think you're a whacko if you argue that any agency of the federal government is fatally flawed or deeply corrupted in some sense. They can be criticized for discrete actions, but they must be believed to be fundamentally necessary and good.
Nobody has ever given me a sound explanation for thinking that critics must be conspiracy theorists. The nature of any political agency is to put itself first and expand its reach. It's simply the necessity of survival - to protect one's own livelihood - and the sense of special knowledge and competence that comes with access to power.
In short, it's the natural consequence of human nature.
So why would anyone think the Federal Reserve would be immune, and remain fundamentally uncorrupted. And given its often conflicting dual mission, why would anyone expect it to be competent?
"The Fed has repeatedly shown it can’t even be trusted to manage the money supply responsibly. Why would one expect the Fed to make a positive contribution to environmental sustainability or social justice? Calling this implausible is a massive understatement."