Final answer:
The Federal Reserve System is an independent agency of government, with a semi-decentralized structure that comprises a Board of Governors and 12 regional banks.C. Independent agency of government
Step-by-step explanation:
The Federal Reserve System is an independent agency of government. It is semi-decentralized, with a structure that includes a Board of Governors appointed by the President and confirmed by the Senate. The Fed's policy decisions are insulated from political pressure to allow for economic-based decision-making, and do not need congressional approval, nor can the President ask a Federal Reserve Governor to resign. Furthermore, the Federal Reserve includes 12 regional Federal Reserve banks, each serving its district and governed by both federally-appointed and private-sector leaders, showing the combination of public control with private bank ownership.