>So my Q which this article did not even touch on, is whether the Federal Reserve is a public entity (so its profits go to US treasury and not some island somew

>So my Q which this article did not even touch on, is whether the Federal Reserve is a public entity (so its profits go to US treasury and not some island somewhere), and if it is not, why not? I believe you are conflating the Federal Reserve itself (the agency established by law that has a dual mandate to pursue price stability and full employment) and the Federal Reserve Banks (Richmond, Dallas, Minneapolis, etc.). The equity of the Federal Reserve Banks are owned by the commercial banks of the United States, and remit their profits to the US Treasury. Which seems consistent with the case you cite, where they’re private entities in some contexts (i.e., owned by private sector banks) but public entities in others.