The FED (Federal Reserve Bank) is neither “Federal” nor does it hold “Reserves”.

Federal Reserve Act: Public Law 63-43, 63d Congress, H.R. 7837: An Act to Provide for the Establishment of Federal Reserve Banks, to Furnish an Elastic Currency, to Afford Means of Rediscounting Commercial Paper, to Establish a More Effective Supervision of Banking in the United States, and for Other Purposes

https://fraser.stlouisfed.org/content/?title_id=966&filepath=/files/docs/historical/fr_act/nara-dc_rg011_e005b_pl63-43.pdf

Now codified at Title 12 U.S. Code § 411 (remedy from private bank elastic currency is written into the law):

Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth AND FOR NO OTHER PURPOSE, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. THEY SHALL BE REDEEMED IN LAWFUL MONEY ON DEMAND at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank.

https://www.gpo.gov/fdsys/pkg/USCODE-2011-title12/html/USCODE-2011-title12-chap3-subchapXII-sec411.htm

MAKE YOUR DEMAND

The public papers and addresses of Franklin D. Roosevelt. Volume two, The year of crisis, 1933: with a special introduction and explanatory notes by President Roosevelt. [Book 1]

https://quod.lib.umich.edu/p/ppotpus/4925381.1933.001?rgn=main;view=fulltext

“Recognized Government bonds are as safe as Government currency. They have the same credit back of them. And, therefore, IF WE CAN PERSUADE PEOPLE ALL THROUGH THE COUNTRY, WHEN THEIR SALARY CHECKS COME IN, TO DEPOSIT THEM IN NEW ACCOUNTS, WHICH WILL BE HELD IN TRUST AND KEPT IN ONE OF THE NEW FORMS I HAVE MENTIONED, we shall have made progress.”