The Federal Reserve banks are not one in the same as the Board of Governors of the Federal Reserve System. That's why they have different names. It's Board of G

The Federal Reserve banks are not one in the same as the Board of Governors of the Federal Reserve System. That's why they have different names. It's Board of Governors that determines the interest rate. It is a policy making part of the federal government. https://www.newyorkfed.org/aboutthefed/fedpoint/fed46.html https://www.newyorkfed.org/aboutthefed/fedpoint/fed46.html > The Federal Reserve System is supervised by the Board of Governors. Located in Washington, D.C., the Board is a federal government agency consisting of seven members appointed by the President of the United States and confirmed by the U.S. Senate. The Board has about 1,850 employees. Please stop spreading this nonsense.