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The fed is absolutely an agency of the us government: https://www.federalreserve.gov/faqs/about_14986.htm https://www.federalreserve.gov/faqs/about_14986.htm >

The fed is absolutely an agency of the us government: https://www.federalreserve.gov/faqs/about_14986.htm https://www.federalreserve.gov/faqs/about_14986.htm >The Federal Reserve System is not "owned" by anyone. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank. The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to the Congress.

JumpCrisscross 6y ago
> fed is absolutely an agency of the us government It’s absolutely not a government agency but also absolutely not privately owned. It’s best thought of as a non-governmental entity that is strongly influenced—and sanctioned—by the government, but does not operate underneath it. This is why e.g. the Fed and Treasury negotiated how losses fell from the Main Street lending program. And if you visit a Fed, one of the first things their employees like to point out is that they’re NOT federal employees.
- throw0101a 6y ago
  > It’s absolutely not a government agency but also absolutely not privately owned. The closest analogy is that it's a co-op: > Some observers mistakenly consider the Federal Reserve to be a private entity because the Reserve Banks are organized similarly to private corporations. For instance, each of the 12 Reserve Banks operates within its own particular geographic area, or District, of the United States, and each is separately incorporated and has its own board of directors. Commercial banks that are members of the Federal Reserve System hold stock in their District's Reserve Bank. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. In fact, the Reserve Banks are required by law to transfer net earnings to the U.S. Treasury, after providing for all necessary expenses of the Reserve Banks, legally required dividend payments, and maintaining a limited balance in a surplus fund. * https://www.federalreserve.gov/faqs/about_14986.htm https://www.federalreserve.gov/faqs/about_14986.htm

JumpCrisscross 6y ago

> fed is absolutely an agency of the us government It’s absolutely not a government agency but also absolutely not privately owned. It’s best thought of as a non-governmental entity that is strongly influenced—and sanctioned—by the government, but does not operate underneath it. This is why e.g. the Fed and Treasury negotiated how losses fell from the Main Street lending program. And if you visit a Fed, one of the first things their employees like to point out is that they’re NOT federal employees.

throw0101a 6y ago
> It’s absolutely not a government agency but also absolutely not privately owned. The closest analogy is that it's a co-op: > Some observers mistakenly consider the Federal Reserve to be a private entity because the Reserve Banks are organized similarly to private corporations. For instance, each of the 12 Reserve Banks operates within its own particular geographic area, or District, of the United States, and each is separately incorporated and has its own board of directors. Commercial banks that are members of the Federal Reserve System hold stock in their District's Reserve Bank. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. In fact, the Reserve Banks are required by law to transfer net earnings to the U.S. Treasury, after providing for all necessary expenses of the Reserve Banks, legally required dividend payments, and maintaining a limited balance in a surplus fund. * https://www.federalreserve.gov/faqs/about_14986.htm https://www.federalreserve.gov/faqs/about_14986.htm