Episode 505: A Locked Door, A Secret Meeting And The Birth Of The Fed
Episode 505: A Locked Door, A Secret Meeting And The Birth Of The Fed
J.P. Morgan Flickr/The Library of Congress hide caption
On today's show, we tell the origin story of the Federal Reserve — the most powerful financial institution on the planet.
The story includes a 70-year-old man with a bad head cold and a bunch of mistresses, a nation that's deeply ambivalent about a central bank, and a secret meeting on an island with a sketchy name.