What is the Federal Reserve?

Added: 2026-05-26

[00:00:00]Think of the US economy as like a nuclear reactor, okay? It's humming along, it's producing energy. The Federal Reserve are like the engineers in the control room controlling that reactor. They're determining how hot it gets or how cool it gets. So, when they make these decisions on interest rates, they are literally managing [music] the temperature of the economy. The Fed's Open Market Committee that sets interest rates is the most powerful economic body in the United States, full stop. I mean, it is the bedrock of [music] the entire financial system and the entire economy.