President Obama should do the right thing and push the Congress to issue a complete audit of the Federal Reserve. The President cannot demand an audit himself; the Congress, though, can issue legislation that would make an audit of the Fed possible.
President Obama has the luxury of a large audience; when he speaks, people listen. To be certain, if President Obama were to make the case for an exhaustive audit of the Federal Reserve then the Congress would feel more pressure to do so.
The Fed has acted in secret for decades and is the cause of many of our economic and financial problems. In order to stop the business cycle, booms and busts, and massive federal debt, the U.S. Federal Reserve must be audited and then eventually reformed or abolished.