“Federal Reserve” is an adjective'
'In a more substantive vein, Conti-Brown, assistant professor of legal studies and business ethics at the Wharton School of the University of Pennsylvania, argues that the perennial question of whether US monetary policy is independent of political influence is far too complex to be answered with a simple yes or no.'

First of all if Federal Reverse is an adjective and since the use of an adjective isn't innocent for it intends to signify implicitly contents, Federal Reverse refers to implicit contents.
Central Bank independency cannot mean it can't be affected by political influence, thus the answers are yes and no and not yes or no but both. For instance will Central Bank be sensitive to political influence where and when the sign of that influence correspond to the view of Central Bank? I mean in the case of convergence? Is Central Bank part of a whole that is affected by the politic?, etc