Federal Reserve - private or government owned?

[Brad De Long]

>I overheard an argument at a meeting yesterday and, not knowing the 
>answer, didn't say a thing.  But
>I was thinking that maybe someone on this list knows for sure and 
>can clarify things.  Is the US
>Federal Reserve Bank a private entity or a government agency?
>
>Thanks,
>BD

The twelve Federal Reserve Banks claim to be private entities. The 
Federal Reserve Board admits that it is a government agency.

But for any reasonable definition of "government," they are part of it...

Brad DeLong

-- 
Professor J. Bradford DeLong
Department of Economics, #3880
University of California at Berkeley
Berkeley, CA 94720-3880
(510) 643-4027; (925) 283-2709 voice
(510) 642-6615; (925) 283-3897 fax
http://www.j-bradford-delong.net/