Eric Bejarano, Question 5, Chapter 10

I most enjoyed the part where the author explains how the United States federal reserve can have such an immense impact on the economy. It is startling how a group whose not even elected can completely ruin the economy if they wanted to. Luckily for us the people working at the Federal Reserve have the best interests of the country in mind. For example after the attacks on the world trade center in 2001 the Federal Reserve issued a statement reminding the US population and the rest of the world for that matter that the economy wouldn't be affected by these attacks and that there was no need to panic. They also were able to cut interest rates by .5 percent which made things easier on the general public which encouraged additional spending. Obviously the people working at the Federal reserve have a deep understanding of Econ and therefore they are able to manipulate our currency and the ways we spend it to help us all in the long run.