What is the Fed?

Finally! The Fed!Top 3 friend of the pod Jamisen joins us to explain what the Fed is, what it does, and why we should care. What is a central bank? What's fractional reserve banking? What's the interest rate that everyone cares about? Should we audit the Fed? And, like, what is money anyway?We answer some of these questions on this show.Sources:Ben Bernanke, 21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19Alan Blinder, A Monetary and Fiscal History of the United States, 1961–2021