The Fed pays its profits to the US government. The chairman of the Federal Reserve board is appointed by the President and approved by Congress. It has statutory legal authorities. It&#x27;s a little more federal than Federal Express.<p><a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Federal_Reserve_System" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Federal_Reserve_System</a>