Streams

Episode 505: A Locked Door, A Secret Meeting And The Birth Of The Fed

Friday, December 20, 2013

On today's show, we tell the creation story of the Federal Reserve โ€” one of the most powerful financial institutions on the planet.

The story includes a 70-year-old man with a bad head cold and a bunch of mistresses, a nation that's deeply ambivalent about a central bank, and a secret meeting at an island with a sketchy name.

Music: 10cc's "Wall Street Shuffle" Find us: Twitter/ Facebook/Spotify/ Tumblr. Download the Planet Money iPhone App.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

Source: NPR

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