On Mar 17, 2008, at 4:49 PM, skinnyjohn at stealthisemail.com wrote:
> Forgive a stupid question if you will, but is the Federal Reserve a
> private, separate institution not connected to the federal
> government, or
> is such a assumption an urban legend/conspiratorial myth? Thanks!
The Board in DC is entirely a government entity (though as Greider points out in his book on the Fed, it acquired the land its HQ is on from the USG - there was an actual deed transfer, suggesting that it's independent of the USG). The branch bank are public-private hybrids, technically owned by member banks in their regions, but with an executive chosen by the Board at the center.
Note that it's federalreserve.gov, but newyorkfed.org.
Doug