Understanding the Federal Reserve

Looking at the above title, the reader may conclude that he has begun to read an article that he might better save until he has a holiday weekend in which to read it. And there can be no doubt that volumes could be written describing the Fed and its inner-workings. For readers who do seek a comprehensive description of the Fed, I can recommend no source more highly than The Creature from Jekyll Island by G. Edward Griffin.

However, the purpose of this article is to describe as simply as possible...