The Federal Reserve Act Explained

The video provides an overview of the Federal Reserve System, its history, and its role in the U.S. economy. It discusses the pre-1913 banking system, the creation of the Federal Reserve, and its structure, including the Board of Governors and the Federal Open Market Committee. The video explains monetary policy tools like interest rates and the reserve requirement. It also addresses criticisms and controversies related to the Federal Reserve, such as its perceived role as a banking cartel and constitutional debates.

What was the purpose of the Federal Reserve Act signed in 1913?

What was the banking crisis of 1907 and how did it influence the creation of the Federal Reserve?

How does the Federal Reserve aim to control inflation and unemployment?

What are the main functions of the Federal Reserve Banks?

Discuss the relationship between the Federal Reserve and the private banking system.

How does the Federal Reserve regulate the monetary supply?

Explain the significance of the discount rate in monetary policy.

What is the reserve requirement and how does it affect banks?

Describe the role of the Federal Open Market Committee.

What are the criticisms of the Federal Reserve System mentioned in the text?