The Federal Reserve and Why it Matters

If you care about Wealth Inequality, then you need to be taking about the FED. We hear so much on both sides about inequality in our society by there is a conscious effort in the media not to talk about the most powerful entity in our economy and the role it plays.

0:00 - Intro
3:00 - A Brief History
6:40 - Nuts and Bolts (The Dual Mandate)
12:30 - Track Record
15:30 - Inflation's effect on Wealth

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Sources Cited:

1. Paycheck to Paycheck - https://www.forbes.com/sites/zackfriedman/2019/01/11/live-paycheck-to-paycheck-government-shutdown/#19c3abe34f10
2. Panic of 1907 official history - https://www.federalreservehistory.org/essays/panic-of-1907
3. Official FED history, includes implication that JP Morgan put it together - https://www.federalreservehistory.org/essays/jekyll-island-conference
4.
5. Max Warburg finances Bolsheviks - https://history.state.gov/historicaldocuments/frus1918Russiav01/d371
6. https://www.investopedia.com/ask/answers/040715/were-there-any-periods-major-deflation-us-history.asp
7. https://www.minneapolisfed.org/about-us/monetary-policy/inflation-calculator/consumer-price-index-1913-
8. https://www.stlouisfed.org/publications/regional-economist/second-quarter-2017/a-short-history-of-prices-inflation-since-founding-of-us
9. https://www.forbes.com/sites/steveforbes/2014/09/30/money-is-not-wealth-but-it-helps-