The Federal Reserve This was spurred on, in part, by Frontline’s excellent program about the Fed.] — Xtrix
I'll have to watch that. My understanding is that the federal reserve controls interest rates, but I have no idea what interest rates, like is it the interest rate on a mortgage or credit card? Is it a baseline or minimum for banks...I tried wikipedia but it went in and out of my head.
it is also said that the fed control money supply. but I thought the treasury does that? they definitely print the money. So how does the fed control the amount of coins and paper bills in circulation if they don't actually print them? They give the treasury the go ahead to print?
These are my childish questions I know, but I have no background in this. I just know it's important somehow!