Chapter 10

Okay, before reading this chapter I had heard of the Federal Reserve and I knew they had something to do with money. But once again, because of Wheelan's endless supply of examples, I now understand a little more. The thought that "Some have criticized the Fed for doing too much, some have criticized the Fed for doing too little. [But] everyone agrees that what the Fed does matters enormously"(218-219), is an accurate one. No matter what side you are on, the Federal Reserve is a significant aspect of the way that we work and our government. This is important to everyone and for me in the future because the Fed technically guesses the rate at which the economy can expand without igniting inflation. And they must find out what type of impact a change in interest rates would have and how long it would take. Their job effects the economy and the people whether you like it or not. They could predict and potentially stop a recession or foresee the effects that changes will have on the people. All of this effects me in the future one I start becoming more involved in the economy.