A contraction of the word *federal* (Fed, which I consider lazy) in a possessive form, not the specific *is*. I should have been more clear.
Yes, it was poorly worded, but not apostrophe abusive. I also agree on the poor structure of the entire piece. Lousy construction and overuse of colloquialisms are rife in contemporary “news” reporting.
Nice to “speak” with you. Take special care.
One does not use an apostrophe to pluralize a word. As a lifelong DC area person who grew up reading its newspapers, I can tell you I have never seen the plural “Feds” (as a nickname for the agents or policies of a Federal agency) published by a mainstream news source written any other way but “Feds.”