The part of the Fed that does the counterplan is a government agency.
Herron 15 (Janna Herron, a senior editor for The Fiscal Times based in New York, oversees the Life and Money channel that covers financial issues that touch people and their families. "The Federal Reserve Bank, Explained," 11/12/15, pg. online @ www.thefiscaltimes.com/2015/11/12/Federal-Reserve-Bank-Explained)
Founded in 1913 by an act of Congress, the Federal Reserve System — also referred to as the U.S. central bank — originally was created to prevent bank panics. Historically, people would withdraw their funds in droves in times of uncertainty and, like dominoes, collapse the entire banking system. The system has since evolved to support a stable banking system and, more generally, a healthy economy. By design, the Fed is an independent agency that can conduct its duties without political pressure. How is the Federal Reserve structured? The Federal Reserve System is divided into three components: the Board of Governors, the 12 regional Reserve Banks, and the Federal Open Market Committee, or FOMC. Who owns the Federal Reserve? The Board of Governors is a federal government agency. But the 12 regional Reserve Banks are not part of the federal government. Instead, they have been established like private corporations where member banks hold their stock, which can’t be sold or pledged as loan collateral.