Why Americans Should Have Bank Accounts at the Fed

The video discusses the concept of Fed accounts, which are central bank accounts that could be offered to the public. These accounts would provide benefits such as higher interest rates, real-time payments, and financial stability. They could address issues like the unbanked population and slow payment systems. The video also compares Fed accounts to commercial banks, highlighting potential competition and the political challenges of implementation. Alternative banking initiatives, such as postal banking, are also explored.

In what ways could Fed accounts contribute to macroeconomic stability?

What are the potential political implications of introducing Fed accounts?