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Civics 101

Why You Should Care About the Federal Reserve

Civics 101

NHPR

Education, History, Supreme Court, American History, Elections, Democracy, Society & Culture, Government, Civics, Politics, Social Studies

4.62.4K Ratings

🗓️ 8 March 2022

⏱️ 24 minutes

🧾️ Download transcript

Summary

Look up a definition of the Federal Reserve, and you'll see things like "central bank," "monetary policy," and "regulation and stabilization of the financial system." What do they mean, and why does it matter?

Transcript

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0:00.0

I'm Anita Hill. You probably know me. Or think you do.

0:05.1

In the past 60 years, I've seen massive social gains for women and people of color.

0:11.0

I've been at the forefront.

0:14.0

Here's the thing. This progress didn't happen by chance. It was made.

0:19.2

Made by hard work. Sometimes life-threatening work.

0:23.8

And it was made by everyday people making everyday choices.

0:27.1

But there are still social inequalities that keep me up at night.

0:35.3

My new podcast, Getting Even, is about equality and what it takes to get there.

0:41.6

We're reflecting on how we looked outside the lines,

0:44.9

broke the rules, and forged our own paths to equality.

0:50.4

Listen to Getting Even on Apple Podcast. Or wherever you like to listen.

1:03.2

You know how money works, but like do you really know how money works? You know what I mean?

1:08.2

From the opening bell, investors were sounding the alarm. A massive stock sale.

1:12.6

Now that while ride on Wall Street, the worst day in more than 400 years after the

1:17.4

sold Rosary items rose. It could be the most serious recession in decades.

1:23.2

And that means life is most Americans know what is about to change.

1:26.4

You're listening to Civics 101, and today we're talking about the Federal Reserve.

1:30.1

And listeners, this is Christina Phillips. She's our senior producer.

1:34.5

Nick, have you ever listened to a speech by the chair of the Federal Reserve?

1:37.9

No, absolutely not. Never in a thousand years would I do that on a night off.

1:42.8

All right, so I did use to listen to the Federal Reserve speeches because in a former job,

1:47.1

when I was in news, I would cover the economy as part of my beat.

...

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