A hat tip to Lenderama for alerting me to the Federal Reserve Kids Page [Federal Reserve].

However, I think its misnamed. The narrative is really of equal or greater help to adults since I suspect that most don’t fully understand the role of the Fed in our monetary system other than setting the federal funds rate. If you don’t believe me, take the quiz first before reading the web page.

There is a great book on how the Fed works, published in 1989, called Secrets of the Temple [Amazon] by William Greider. Amazon displays part of the first chapter which is worth a quick read. Although the names have changed, the process is still the same.


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