4 ms·

Federal Reserve is not strictly part of the federal government.

• cs702 4y ago
  It's independently run, but part of it. Specifically, any money it makes (or loses) goes to the US Treasury: https://www.wsj.com/articles/higher-interest-rates-fuel-losses-at-the-federal-reserve-11667208602 https://www.wsj.com/articles/higher-interest-rates-fuel-loss...
  • NovemberWhiskey 4y ago
    https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks https://www.stlouisfed.org/in-plain-english/who-owns-the-fed...
    • snowwrestler 4y ago
      > While the Board of Governors is an independent government agency…
      • NovemberWhiskey 4y ago
        OK, I mean, sure, focus on that part rather than: >The Federal Reserve Banks are not a part of the federal government [...]
      • throwaway0asd 4y ago
        The board is 7 people, and yes those 7 people are government employees. However, the remaining many thousands of people that comprise the Federal Reserve system are not government employees. Quite the straw man.
        • snowwrestler 4y ago
          “The Board of Governors of the Federal Reserve” is the name of the agency. It covers the governors themselves but also the agency staff, the police force, etc.