Look up a definition of the Federal Reserve, and you'll see things like "central bank," "monetary policy," and "regulation and stabilization of the financial system." But what does it mean to have a national bank, and how does this government agency impact your ability to have a job, earn and borrow money, and afford things like groceries, rent, and pet food?
In this episode, we'll explain how the Federal Reserve came to be, how it works, and how the actions the Fed takes influence our economy. Our guest is Louise Sheiner, policy director at the Brookings Institution's Hutchins Center on Fiscal and Monetary Policy. She spoke with Civics 101 in 2017.
Want to learn more about the financial crisis of 2008? Here's some of our favorite resources:
PBS has a list of documentaries about the crisis. Christina loved "Inside the Meltdown" from Frontline.
"The Giant Pool of Money," from This American Life explores the housing crisis.
Marketplace has a series of reports on the Great Recession, including its continuing impacts on today's economy.