Need to learn—or teach someone else—about the Federal Reserve? Have no fear! Whether you're a high school history teacher from Helena or a businessperson from Boise, Buck, our friendly tour guide, will show you around the Federal Reserve System, introducing you to who we are and what we do.

The Federal Reserve was created in 1913 in response to the nation’s recurring banking panics; its mission has since expanded into fostering a healthy economy.

The Board of Governors is the federal government agency that regulates banks, contributes to the nation’s monetary policy and oversees the activities of Reserve banks.

Reserve banks conduct research on the economy, supervise banks in their regions, and provide financial services to banks and the U.S. government.

The FOMC determines the nation’s monetary policy to help foster a healthy economy.

The Federal Reserve manages the nation’s money supply to keep inflation low and the economy growing at a sustainable rate.

The Federal Reserve writes regulations and supervises banks to ensure that the banking system is safe, sound and able to respond to a financial crisis.

The Federal Reserve offers financial services to banks and the U.S. government to foster competition, innovation and efficiency in the marketplace.

Download In Plain English: Making Sense of the Federal Reserve

Pdf format, 2.2mb, 22pages.

In Plain English: Making Sense of the Federal Reserve Official Website

Cool. Take me the online tour.

Can you answer these in plain English?

1. Who created the Federal Reserve System? (page 1)
2. Name the three parts of the Federal Reserve System. (page 1)
3. What is the name of the Fed’s chief monetary policymaking body? (page 7)
4. How many districts make up the Federal Reserve System? (page 9)
5. In which Federal Reserve district do you live? (pages 8-9)
6. What are the three responsibilities of the Federal Reserve System? (page 8)
7. Name three activities you might see at Reserve banks. (pages 10-15)
8. What is the Fed’s most frequently used tool for conducting monetary policy? (page 10)
9. How does banking supervision differ from banking regulation? (page 12)
10. Name three financial services the Fed offers. (pages 14-15)

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