The federal reserve was supported by both Republicans (with even less oversight) and Democrats. Whether or not these magnates approved of the fed, they didn't have the power to stop it
https://cooperative-individualism.org/american-institute-for-economic-research_americas-unknown-enemy-1993-04.htm
nostr:nevent1qvzqqqqqqypzqgxjnqgddf0e9vz94hszawadeypk6aquc6rtqpq4cs45ydh7ftf0qy88wumn8ghj7mn0wvhxcmmv9uq3wamnwvaz7tmjv4kxz7fwdehhxarj9e3xzmny9uqzqlwlx0nzh8v70p52dfeawx9t0kf5qlpn6zspqlh8mv9ycuey8rl5up434j
