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Comment by fires10 | Hacker News Reader

I do not understand the claim the Fed is not a government agency?

> Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms.

https://en.wikipedia.org/wiki/Federal_Reserve

They're an IA.

https://en.wikipedia.org/wiki/Independent_agencies_of_the_Un...

The for-profit ones (Amtrak, USPS, etc.) are called SOEs.

The loan-related ones (Freddie Mae) are called GSEs.

IA - Independent Agency

Thank you. While abbreviations are handy for those in the know, it's so helpful for general readers if one takes a moment to spell things out.

Respectfully, there's a Wikipedia link.

Absolutely. And thank you for that.

https://en.wikipedia.org/wiki/Federal_Reserve

Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms."[11]

The Federal Reserve is an independent bank. An important detail the current US administration does not like.

It's "independent" of the Government in the way that Congress could just legislate them to not be independent anymore tomorrow if they felt like it...

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