Who owns the Federal Reserve System?

The Federal Reserve System is designed to be an independent central bank. This independence means that it operates without direct control from the executive or legislative branches of government, which allows it to make decisions based on sound monetary policy rather than political pressures. The structure of the Federal Reserve includes a Board of Governors and 12 regional Federal Reserve Banks, which function autonomously within the framework of the Federal Reserve System. This independent status is essential for maintaining financial stability and credibility in monetary policy, enabling it to better respond to economic changes and challenges without undue influence from political entities.

The other options, while they involve governmental or organizational roles, do not accurately capture the unique status of the Federal Reserve as an independent entity. Congress plays a role in creating the Federal Reserve and overseeing its activities, but it does not own it, nor does the Treasury Department or any specific organization like the Mortgage Bankers Association. The independence is a cornerstone of its mission to manage inflation and maintain employment through effective monetary policy.