If you ignore the fact that Rick C-137 killed the entire council and caused the Citadel of Ricks to be unstable; you would realize the Council of Ricks are the most powerful beings in the universe because they have the smartest and most technologically advanced soldiers/civilians in the universe.
It's also pretty clear that the Galactic Federation are enemies of the Council of Rick dude to reasons such as their organisation trying their best to steal the ingredients for portal fluid and on top of this the Federation class Ricks as multidimensional threats and would imprison him when found.
We realize in the "Rickshank Rickdemption" that the Ricks have the ability to teleport entire stations across the galaxy so why don't they teleport for example a Neutrino bomb and wipe out the Galactic Federation? Why did it take one Rick (C-137) to decide enough was enough and collapse the entire financial structure of the Galactic Federation?
In "The Rickshank Redemption", the Citadel of Ricks is teleported into the Galactic Federation prison by Rick C-137, causing a massive outbreak. Rick set the value of the Blemflarck to 0, essentially making it worthless. With no money, the Federation quickly fell apart into anarchy. As soon as Blemflarcks became worthless, the President of the Federation committed suicide. The Federation collapses in on itself, causing many of their ships to leave Earth and violence to break out. As of now, the Galactic Federation is considered to be a defunct government.
Did the council of Ricks decide going after this (compared to them) small organisation a waste of resources? I mean technically they have infinite resources to wipe out the Federation.
Or is it just a waste of their time?