Are you serious, TP? You didn’t know that the Fed was a private institution, composed of its private member banks?
Wikipedia, for speed.
The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. The Federal Reserve System, created in 1913, is a private banking system composed of (1) the presidentially-appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) 12 regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and (5) various advisory councils.
The Federal Reserve System was established in 1913 by the enactment of the Federal Reserve Act. Currently, Ben Bernanke serves as the Chairman of the Board of Governors of the Federal Reserve System.
But who owns it? You make it sound like the government has no influence, no power over the Fed, because it's privately owned.