The Birth of Legal Counterfeiting
The FED is a central bank.
Central banks are supposed to implement a country’s fiscal policies. They monitor commercial banks to ensure that they maintain sufficient assets, like cash, so as to remain solvent and stable.
Central banks also do business, such as currency exchanges and gold transactions, with other central banks.
In theory, a central bank should be good for a country, and they might be if it wasn’t for the fact that they are not owned or controlled by the government of the country they are serving. Private central banks, including our FED, operate not in the interest of the public good but for profit.