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

[snowwrestler]

The Board of Governors of the Federal Reserve is a independent federal agency with regulatory powers. They even have a federal police force.

You are correct it is completely separated from the Treasury Department and the Department of Commerce.

[throwaway0asd → snowwrestler]

https://www.federalreserve.gov/aboutthefed/bios/board/defaul...

So, those 7 people are government employees, but the remaining thousands that comprise the entirety of the Federal Reserve system are not.