I would like to know who exactly owns the fed.?


particularly severe financial crisis in 1907 prompted congress establish national monetary commission, put forth proposals create institution prevent , contain financial disruptions of kind. after considerable debate, congress passed federal reserve act provide establishment of federal reserve banks. president woodrow wilson signed act law on december 23, 1913.

federal reserve system considered independent central bank because decisions not have ratified president or else in executive branch of government. system is, however, subject oversight u.s. congress. federal reserve must work within framework of overall objectives of economic , financial policy established government; therefore, description of system “independent within government” more accurate.

board of governors of federal reserve system federal government agency. board composed of 7 members, appointed president of united states , confirmed u.s. senate.

just curious...


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