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How can you seriously believe the Fed isn't a government entity? I'm legitimately struggling to understand how you came to such a misguided conclusion.

• tonguez 5y ago
  How can you believe it is? I'm legitimately struggling to understand how you came to such a misguided conclusion.
  • Hasu 5y ago
    Because it: - was created by the US government - is ran by US government appointees, who are nominated by the President and confirmed by the Senate - has to make annual reports to Congress - returns all its profits to the US government - describes itself as a government agency. [0] Does the Fed have more independence than, say, the Department of Agriculture? Yes, but an independent government agency is still a government entity. [0] "The Federal Reserve, like many other central banks, is an independent government agency..." https://www.federalreserve.gov/faqs/about_12799.htm https://www.federalreserve.gov/faqs/about_12799.htm
  • avs733 5y ago
    Because beliefs tend to emerge from ideology as opposed to the other way around. Then those beliefs become the api for interacting with information
• mypalmike 5y ago
  The ownership structure of the Federal Reserve's 12 constituent reserve banks makes the Fed a mix of private and public banking. Commercial banks hold shares in each of the reserve banks. As shareholders, they elect 6 of the 9 regional directors. So while it's largely a governmental organization, ownership and influence from private banking is certainly present.