Tick tock?
We’ve all had the experience of getting together with some of our buddies and, over a couple of beers, crafting a brilliant solution to one of the world’s problems. Sure it’s a crazy idea, but it just might work! 
Yet in the harsh light of day, it’s likely you realized your ingenious plan had some glaring downsides you’d failed to consider. Well, no harm done, right? It’s all just talk.
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This means when central banks get together and come up with a crazy idea, they can implement it with little to no oversight. The Federal Reserve doesn’t need to get permission from Congress or the president, and this lack of answerability is much the same in most industrialized countries. Unfortunately, this largely unchecked power also doesn’t tend to attract much notice because a headline like “Central Banks Pursuing Irrational Policies” doesn’t really garner a lot of attention.