From the folks at Sound Money Campaign comes this short little video about the Federal Reserve, an organization that will be celebrating its 100-year anniversary exactly 10 months and one day from today.
I never thought about the name “Federal Reserve” before, but, since this was the third U.S. national bank (the charters for the first two were allowed to expire without being renewed) and, according to the video, there were negative connotations to the phrase “central bank” at the time, the current name makes sense.
On a related note, Representative Jim Jordan (R-OH) has “demanded” that Fed Chief Ben Bernanke explain how he’s going to unwind the central bank’s $3+ trillion balance sheet without making a mess of things.
