Is the Federal Reserve a privately owned corporation?
The Federal Reserve Bank of San Francisco has the pamphlet Is the Federal Reserve a privately owned corporation?
The Federal Reserve System is considered to be an independent central bank. It is so, however, only in the sense that its decisions do not have to be ratified by the President or anyone else in the executive branch of the government. The entire System is subject to oversight by the U.S. Congress….the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government.
I find another clarifying statement rather definitive.
The Board of Governors—Located in Washington, D.C., Board members are appointed by the U.S. President and confirmed by the U.S. Senate. Board members and staff are civil service employees.
The Federal Reserve Bank of San Francisco uses different words to explain the same basic truth that was explained in my previous post Who owns the Federal Reserve? This post gives the link to a pamphlet from the Board of Governors of the Federal Reserve System. As per the above quote “Board members and staff are civil service employees.”