Assignment:
Yes, I think the Federal Reserve System should control the nations money supply as they allow the stable expansions of the economy. They also provide a supply of money and credit during economically slow periods. In a nutshell, they allow the economy to take it course until there interjection is required at extreme ends of the scale. The Feds use the following tools to maintain a healthy balance in the economy: reserve equipment, discount rate and open market operations. When the economy is experiencing a downturn, the Feds provide a cash supply to kick start growth e.g. GFC 2008. On the top end when inflation is posing a risk, the supply is shrunk to contract.
Reference: How the Federal Reserve Manages Money Supply.