Audit

If they can't audit the Fed, is there any real oversight?

Given what they do there is no doubt, IMHO, that being able to regularly audit the Fed has to come under the oversight of Congress. The amounts of money they can deal in, what they do with it, where it comes from and how it can effect our entire economy dictates that they have to be able to be reviewed in what they do. All I can say is "Go Bernie!"