more at money.quickfound.net "Join radio and television journalist Charles Osgood as he explains the workings of the Federal Reserve System. This 13-minute video covers the Fed's history from its creation in 1914 to the technological innovations of 21st century banking. It explores the structure of the Fed as well as monetary policy, banking supervision, financial services, and more." Public domain film from the National Archives, slightly cropped to remove uneven edges, with the aspect ratio corrected, and mild video noise reduction applied. The soundtrack was also processed with volume normalization, noise reduction, clipping reduction, and equalization. en.wikipedia.org The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system. The Congress established three key objectives for monetary policy--maximum employment, stable prices, and moderate long-term interest rates--in the Federal Reserve Act. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the ...