Federal Reserve Bank Explained - Story Idea #5
The Federal Reserve Bank and its operations are continually in the news. Most people believe "the Fed," as it is called, is a government agency, but it is actually an independent organization, much like the U.S. Postal Service. There is a branch of the Fed here in Minneapolis. It's a beautiful building, maybe something about the building itself and the artwork housed inside could be included. A story could be sort of a walking tour, describing the building, the art inside, what the various departments do, how their work has changed as checks are used less and less, stuff like that. The Fed has recently been critcized for its lack of oversight over subprime lending explosion and exploring that would make it topical. However, I'm not convinced that the sources below would give a balanced picture, so any suggestions of local sources would be helpful (I can think of many national ones).
David Fettig is Minneapolis Fed Vice President and Director of Public Affairs: 612-204-5274
U of Mn Department of Economics Associate Professor Fabrizio Perri, author of â€śFinancial Globalization and Real Regionalizationâ€?: (612) 625-7504
Chris Farrell, economics analyst for MPR, NPR and other publications: 651-229-1378 (he would not be so easy to get, so another suggestion would be welcomed)