"the Fed and other central banks around the world have enormous influence over the lives of people everywhere, much more than most people realize. For example, if the Fed thinks the U.S. is in danger of excessive inflation, it may reduce the money supply in order to cool down the economy. This, however, will increase unemployment, which, in turn, will affect people's marriages, their self-esteem, and their financial well-being, not to mention their ability to buy a house, send their children to college, and save for retirement.
In a very real sense, the Federal Reserve has huge power over the U.S. economy and, indirectly, over people's lives. And yet, very few people understand what the Fed is and how it works."
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