Economics
Central Banks and Money
Quick fact
The Federal Reserve, the U.S. central bank, was created in 1913 after a series of bank panics, and today it can create billions of dollars digitally in minutes to stabilize the economy.
Why this is interesting
Every dollar, euro, or yen in your pocket is issued by a central bank. But how do these powerful institutions decide how much money exists—and what gives that money its value?