The Federal Reserve System (also known as the Federal Reserve,
and informally as the Fed) is the central banking system of the
United States.The Federal Reserve System fulfills its public
mission as an independent entity within government. It is not
"owned" by anyone and is not a private, profit-making
institution.However, the Federal Reserve is subject to oversight by
the Congress, which often reviews the Federal Reserve's activities
and can alter its responsibilities by statute.