On: Why U.S. Public Debt Matters [audio]

[cs702]

The Fed is independently run, but part of the federal government. Specifically, any money it makes or loses goes to the US Treasury:

https://www.wsj.com/articles/higher-interest-rates-fuel-loss...

[throwaway0asd → cs702]

According to the FED they are not part of the government: The Federal Reserve Banks are not a part of the federal government.

https://www.stlouisfed.org/in-plain-english/who-owns-the-fed...