The Romney campaign crams two howling falsehoods into a very few words: It accuses President Obama of being personally responsible for actions by the Federal Reserve Board, which is independent. […]
Q: Who owns the Federal Reserve Bank?
A: There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks. But the banks don’t necessarily run the show. Nationally, the Federal Reserve System is led by a Board of Governors whose seven members are appointed by the president and confirmed by the Senate.