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Federal Reserve System Hannah Mueller
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The Story of the Federal Reserve System
Dad, is it possible for a bank to run out of money?
Why yes dear, bank panics were very common before the Federal Reserve System was created and the economy was always at risk of recession where economic activity declined and spending slowed.
What is the federal Reserve System?
It's the central banking system of the US that is responsible for the nation's economic conditions and conducting monetary policy which controls money supply, interest rates and price stability.
The Federal Reserve System aims to keep the economy stable and inflation low which is increase in prices.
Wait how does someone have that much power?!
Because they are the FED and have more power than the president!
Really? I want to be the FED so I can control everyone!
Well It doesn't quite work like that sweetie, come with me I'll show you.
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