A pine cone covered in ice after an ice storm. Male cones of a pine A classic example of a Lebanese Cedar cone. Immature female pine cone Pollen cone of a Japanese Larch Pineapple gall on Sitka Spruce caused by Adelges abietis. Dozens of male cones (orange and flower-like) occur in a cluster; the female cone is still immature (olive green). Lodgepole Pine.
The Federal Reserve System fulfills its public mission as an independent entity within government. It is not owned by anyone and is not a private, profit-making institution.
The Federal Reserve was created by the U.S. Congress in 1913. Before that, the U.S. lacked any formal organization for studying and implementing monetary policy. Consequently markets were often unstable and the public had very little faith in the banking system.he Fed is headed by a government agency in Washington known as the Board of Governors of the Federal Reserve. The Board of Governors consists of seven presidential appointees, each of whom serves 14 year terms.