It is nominated by the president and approved by the National Assembly, so it has no power to appoint or dismiss personnel.
The actual controller of the Federal Reserve is the president of the United States. Whoever is the president of the United States holds the power of the Federal Reserve.
The full name of the Fed is the Federal Reserve System of the United States, which is also the central bank of the United States. The chairman of the Fed is nominated directly by the president of the United States, and it is obvious that the president of the United States controls the Federal Reserve.
In the form of organization, the Federal Reserve adopts the dual organization of the federal government agency and non-profit organization, so as to avoid being completely controlled by the government or private consortium, so it is equivalent to a private institution and the government cooperation institution.
The Fed’s checks and balances are reflected not only in its organization, but also in its policymaking system, which ensures that the Fed is not controlled by the government or private consortiums.