Why the Fed's Structure May Protect It From Upheaval

The video discusses the structure and dynamics of the Federal Reserve, focusing on the roles of regional presidents and governors. It highlights the current vacancies in the Board of Governors and the resulting shift in voting power towards regional presidents. The historical context of the Fed's decentralized system is explored, emphasizing its unique design as a populist counterbalance. The influence of Reserve Bank presidents in shaping monetary policy and strategy is also examined, with examples of key figures like John Williams and Charlie Evans.

What historical context is provided regarding the establishment of the Federal Reserve system?

What are some of the influential ideas for monetary policy that have emerged from different reserve banks?