that doesn't really conflict with what i've presented
congress created the fed and oversees it, it was set up with private aspects because they wanted market influences to be the primary focus, not partisan political pressure
The Federal Reserve is not controlled by private banks, but by a publicly appointed board of governors. Many confuse "owning" and "controlling". Private banks, while they may own shares in the individual Federal Reserve Banks, do not have any control over the Federal Reserve System, much like how a private individual may own shares of a large corporation, but has little say in the day to day operations.
more, straight from the horse's mouth:
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch 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. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as 'independent within the government'.
