The Federal Reserve 101: 10 Things Every American Should Know

In this video, we discuss the Federal Reserve and its role as the central banking system of the United States. We cover the history, functions, and structure of the Fed, as well as its key responsibilities and the tools it uses to implement monetary policy. Introduction (00:00) History and Functions (00:09) Structure and Responsibilities (00:17) Federal Reserve Created (00:19) Key Functions (00:20) Regional Federal Reserve Banks (01:00) Federal Open Market Committee (01:18) Independence from Government (01:27) Tools of Monetary Policy (01:42) Monetary Policy Objectives (02:00) Reporting to Congress (02:09) Quasi-Public Institution (02:24) Criticisms and Controversy (02:35) Importance of the Fed (02:45)