KTEP - El Paso, Texas

What The Fed Was Designed To Do

Mar 24, 2020

Don't see the video? Click here.

COVID-19 isn't the first natural disaster to shake the world economy, but today we're more prepared for one than ever.

In 1906, an earthquake in San Francisco started a chain of events that destroyed the U.S. economy by 1907. It also led to the creation of the country's most powerful economic tool: the Federal Reserve.

Listen to the original Planet Money podcast episode here! Subscribe to our video series here — and while you're at it, subscribe to our podcast.

Copyright 2020 NPR. To see more, visit https://www.npr.org.