The Federal Reserve is not misleadingly named. It was created by an act of the US Congress. The board is appointed by the President and the Congress sets their salaries. It’s completely appropriate for it to bear the word “Federal” in it’s name.
The conspiracy theories are because people make up stories to fill in what they don’t understand.
Re:Who’s behind the “reopen” domain surge?
by mandelbrotwurst on Monday April 20, 2020 @07:55PM
(#22930297)
The FRB is often described as "private", but it really isn't, certainly not in the way that FedEx is. It:
1. Has the website https://www.federalreserve.gov/ 2. Seems to be considered a federal agency, given that it is subject to FOIA request 3. Was created by the federal government 4. Is run by a Presidentially appointed chairman
...etc....etc...
>The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation’s more than 8,000 banks are members of the system, and thus own the Fed banks.
https://www.factcheck.org/2008/03/federal-reserve-bank-owner...