Who wants to make the Fed a hero? And by the agency of the IRS?
This would require a change in the law, because the Fed must remit its profits in excess of what it pays its stockholders to the US Treasury. What if they remitted the profits to the taxpayers, in proportion to their taxes paid?
Optically, this would look good for the Fed, as their activities would seemingly benefit average Americans. Practically, there would be little difference, because taxes or borrowing would have to make up the loss to the US Treasury.
All for now, but maybe the Fed should consider what looks good, even if it doesn’t change much.