Did you know that the 12 Federal Reserve banks are actually **privately owned** (not owned by the government)?
Yes, it is true that the branches can be considered member-owned. However, monetary policy lay with the the Board of Governors. To review… The Federal Reserve is a unique legal entity that can be described as an independent government agency with member bank participation. It is organized with a 100% government agency at the top (the Board of Governors), and branches beneath them that are organized like corporations with member banks as shareholders.(Ref: http://www.federalreserveeducation.org/f… , http://www.federalreserve.gov/generalinf… ) The Board of Governors are all appointed for 14-year terms by the president and confirmed by congress. It operates per it’s charter and laws set by congress. it is overseen by congress. There is no structure or mechanism for private ownership at this level; it is a government
