The Fed primary goal is to ensure monetary stability and prevent inflation from getting any higher than, say, 3.5% or 4% per year.
Back in 1991-1992, Bush Sr wanted the Fed to go easy on money to help with his reelection efforts. We were in a mild recession, aggravated no doubt because of Persian Gulf War I. Greenspan is a registered Republican, so he would help Bush, right? Well, no, Greenspan did what was right and did NOT increase the money supply (through many of the monetary policy tools at his disposal).
Bernanke, the current Fed chairman, is a highly respected scholar who made his name in academia. He is far less likely than any of his predecessors to be influenced by the Administration or even the banking industry. The scenario you propose is virtually impossible.
