Comment by jschveibinz
3 years ago
To clarify, the Federal Reserve is owned by the 12 Federal Reserve Regional Banks which are in turn “owned” (as in stock that pays a dividend but can’t be traded) by the commercial banks in that region.
3 years ago
To clarify, the Federal Reserve is owned by the 12 Federal Reserve Regional Banks which are in turn “owned” (as in stock that pays a dividend but can’t be traded) by the commercial banks in that region.
it's not a clarification.
the ownership and stocks are entirely legacy symbolic gargoyles on a standard central bank. independent government agency. it's a loosely coupled top-down public institution, the monetary policy is set by a public committee,
> it's a loosely coupled top-down public institution
Indeed. Here I was thinking we'd shed the last of this "independent Fed" legal fiction during the "Great Recession."
Any idea how much the dividend pays to these private individuals?