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Monday, July 28, 2014

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The Federal Reserve and You

< Chapter 1: The Federal Reserve and You Chapter 3: Money and Banking 101 >
 

Chapter 2: History of Central Banking in the United States

This chapter highlights important events in the nation’s monetary and financial history. Learn about the founding, operations, and the closing of the first Bank of the United States. Find out why the First Bank’s successor, the second Bank of the United States, sparked a vicious debate between President Andrew Jackson and Nicholas Biddle, president of the First Bank. Follow the financial turmoil that occurred in the period between the closing of the Second Bank in 1836 and the founding of the Federal Reserve System in 1913. Learn why the actions of the Fed exacerbated the Great Depression and why the Fed’s agreement with the Treasury Department in 1951 restored the Fed’s independence in regard to monetary policy. Finally, find out what lessons the Federal Reserve learned during the period of stagflation in the 1970s and how the Fed responded to the financial crisis of 2007–2009.

Video Segments

The First Bank of the United States
The First Bank of the United States
 (4:04)

The Second Bank of the United States
The Second Bank of the United States
 (1:36)

The State and National Banking Period
The State and National Banking Period
 (2:04)

Creation of the Federal Reserve
Creation of the Federal Reserve
 (4:12)

The Great Depression
The Great Depression
 (2:43)

World War II Through the 1960s
World War II Through the 1960s
 (1:29)

Stagflation in the 1970s
Stagflation in the 1970s
 (3:33)

Boom Times and Bubbles: The Internet Age
Boom Times and Bubbles: The Internet Age
 (1:58)

The Financial Crisis of 2007–2009
The Financial Crisis of 2007–2009
 (3:22)