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The federal reserve is not a part of the federal government in any form or capacity. They are a nonprofit business operating under a government charter defined
by throwaway0asd 4y ago
The federal reserve is not a part of the federal government in any form or capacity. They are a nonprofit business operating under a government charter defined by the Federal Reserve Act of 1913 and are completely separated from the US Treasury Department and the US Department of Commerce.
- cs702 4y agoThe Fed is independently run, but part of the federal government. 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...
- throwaway0asd 4y agoAccording to the FED they are not part of the government: The Federal Reserve Banks are not a part of the federal government. 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 agoThe Board of Governors of the Federal Reserve is a independent federal agency with regulatory powers. They even have a federal police force. You are correct it is completely separated from the Treasury Department and the Department of Commerce.
- throwaway0asd 4y agohttps://www.federalreserve.gov/aboutthefed/bios/board/default.htm https://www.federalreserve.gov/aboutthefed/bios/board/defaul... So, those 7 people are government employees, but the remaining thousands that comprise the entirety of the Federal Reserve system are not.