The Fed Explained: What It Is and How It Works

Did you buy a house in 2020? Did you change jobs in 2021? Are you holding off on buying a new car this year?

Believe it or not, only one institution stands behind all of your financial decisions: the US Federal Reserve.

In this episode of Fiscally Savage, Dylan takes a closer look at the structure, responsibilities, and work of the US central banking system. What does it do? Why do we have it? And how does it affect you and your money?

Show Highlights:

• [02:48] What the Federal Reserve System (FRS) is
• [03:48] Why the FRS was created
• [05:40] How the FRS works
• [08:22] The structure of FRS
• [13:13] Checks and balances of the FRS
• [16:33] The mandates and duties of the FRS
• [22:19] How the FRS impacts people
• [23:02] Is the FRS “good” or “bad”?
• [24:10] Closing statements

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