> it makes sense that the federal branch that manages interest rates is independent of the president.

You left out who the federal reserve is controlled by. It's not completely independent right? In its current form, it is owned and controlled by regional federal reserves which are controlled by the banks.

You are advocating for the corporate bank control of the money supply (and interest rates). One definition of fascism is the merger of corporate and government power. One sign of oligarchy is when corporations control the regulation of their industry.

"Independent government agencies" is just a code word for industry controlled government agencies (which are a form of fascism or oligarchy).