watch:

https://www.youtube.com/watch?v=xfwAqGqT2_Q&feature=youtu.be

Hosted by radio and television news veteran Charles Osgood, this video gives an overview of the Federal Reserve System from its founding in 1913 to the technological innovations of 21st-century banking.

Explain the process of how the Fed changes interest rates and how those changes encourage an appropriate increase or decrease in spending in the economy.