> The Fed has shareholders, pays dividends, and are partially owned by the biggest banks.

Those statements might technically be true, but the implied conclusion (ie. that the fed is beholden to banks because of its ownership structure) is not. The federal government essentially controls the fed because the president appoints all the board members, and nearly all of its profits are paid to the treasury.

>The federal government sets the salaries of the board's seven governors, and it receives all the system's annual profits, after dividends on member banks' capital investments are paid, and an account surplus is maintained. In 2015, the Federal Reserve earned a net income of $100.2 billion and transferred $97.7 billion to the U.S. Treasury,[22] and 2020 earnings were approximately $88.6 billion with remittances to the U.S. Treasury of $86.9 billion.[23]

https://en.wikipedia.org/wiki/Federal_Reserve