Only the board of governors selected by the President... who in turn select the President... coincidentally...;) Member banks are private entities.
A group of bankers headed by Paul Warburg of Kuhn Loeb Co. Bank... a subsidiary of the Rothschild banking houses... wrote the bill first introduced to congress by Senator Nelson Aldrich. The bill proposed to end banking trusts... of course the catch was that it established a leviathan of a trust in the Federal Reserve.
Woodrow Wilson came to regret the Federal Reserve Act... he said:
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men."
Andrew Jackson justified the annulment of the charter for the Second Bank of the United States with the statement:
"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the Eternal God, I will rout you out."
The Federal Reserve was created by the Congress, but it is NOT part of the government