Hayoung Lim, Ch10, Question 6

Something I found very interesting and surprising was how much the Federal Reserve effects our lives and our suffering or lack of it. Since the Federal reserve controls the money flows indirectly such as when the terrorist attacks occurred on 9/11 the Reserve itself stayed open and running while the markets closed. The Monday following the attacks the market re-opened and the Federal Reserve cut interest rates down by 0.5 percent. I had seen the Reserve as just the place that housed and made money but now I realize the sheer power that they have. Though some criticize them for having too much power I see it as imperative to keep the economy in check and prevent another Great Depression.  Though it is worrying how the Reserve must make educated guesses due to the delayed reactions of their actions.