I read the paragraphs the first time. They're not a private company.

I studied finance and work in banking. I know a shit load about the FOMC, the fed funds rate and the federal reserve.

Not a single person at the federal reserve answers to a politician. Congress does not control the monetary system. They don't set interest rates, or influence the money supply by telling the fed how many treasury bills they need to purchase or sell.

They federal reserve is a network of private federal reserve banks, who's President are not selected by he POTUS, along with a board of Governor's who are selected by POTUS. The only part of the federal government that operates as a federal agency is the board of governors.

They are a public/private non profit. The only people who own shares are the companies that are member of the federal reserve, which are the private banks.

The board of governors are selected by the President, but they do not answer to him. None of them are bound to follow his orders. You pretentious fuck.

https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks