Federal Reserve

Federal Reserve

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Storyboard Description

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Storyboard Text

  • Welcome to the Federal Reserve. Here, we control all the money in the United States.
  • In this safe, all of the new money that needs to be sent to commercial banks, the one your parents use, to them.
  • In this room, employees work with the Federal Open Market Committee to control the money supply of our country. This usually occurs through regulation, keeping things regular, so the country runs regularly.
  • We control banks through discount rate and reserve requirement.
  • I'm charging you 10% in interest for borrowing this.
  • Discount Rate is the percentage that banks are charged for borrowing money from the Fed.
  • The bank also has a certain amount of money they need to have in their safe in case of emergency.
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