How much control over Federal Reserve does the US Government have?

Discussion in 'Economy' started by matcheek, Jan 7, 2011.

  1. matcheek
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    matcheek Rookie

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    or in other words who does the head of FED report to?
    and the second question:
    is the Federal Reserve a private institution?

    I'm going to be a bit naive here, have just read about how the FED has been brought to life and can hardly believe that it did manage to survive for almost a century(!)
    Have already checked many sources but cannot get a definite answer.
     
  2. william the wie
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    william the wie Gold Member

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    The Fed is a private bank incorporated in Delaware. It is owned by American banks, the president appoints the leadership and it is headquartered near the Lincoln memorial.
     
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