This is the kind of **** that stokes conspiracy theorists. This guy doesn't understand how the Fed works at all.
As the issuer of the nation's currency, the Fed does not operate like any other entity, nor should it. It's main function is to maintain stability of the financial system, and with its currency monopoly, it can do almost anything it wants, including operating with negative equity (this would've been the case when it bought all the bad **** from the banks during the crisis, as it was bought at market value, but was worth pennies on the dollar and carried at market value in various LLCs).
It operates as an independent agency, but since it was created by an act of congress, congress can certainly change the act. It's well-known by anyone who follows this stuff that the Fed returns the interest it receives on its government bonds back to the Treasury, after it covers its costs and pays the banks a small dividend. This is why most people tend to exclude that $2 trillion in government debt held by the Fed when discussing the US government's "burden of debt".