The Federal Reserve has been at the forefront of daily news in connection with its efforts to revive the national economy in the wake of the COVID-19 pandemic. At the same time, the U.S. Court of Appeals for the Federal Circuit in Bozeman Financial LLC v. Federal Reserve Bank of Atlanta et al. recently ruled that Federal Reserve banks are now permitted to file administrative patent challenges with the Patent Trial and Appeal Board (PTAB). In its April 10 decision, the Federal Circuit Panel distinguished the features and organizational structure of the Federal Reserve banks from traditional “government entities” that were previously barred from initiating such patent challenges.