The 1951 Accord between the Treasury and the Federal Reserve freed monetary policy from supporting government bond prices, emphasizing Fed independence for economic stability. An Accord for Fed credit policy is needed to prevent misuse in the future, especially with growing fiscal concerns. Monetary policy changes high-powered money stock, while credit policy alters Fed assets without changing money stock. The Accord principles ensure Fed independence for stabilizing the economy, insulating it from short-term pressures to stimulate employment or finance the Treasury.