KQ11: Do we really need the Federal Reserve?

President Trump thinks he can manage the economy better than the Federal Reserve and its chair, Jerome Powell. Can he? How effective is the Fed, anyway? What does it even do? Take the quiz to find out. Eleven questions. Go!

If you wanna know more 👇

Here’s some history on the Federal Reserve.

Here’s a list of recessions and depressions since 1854. The Fed has a nice summary of the Gilded Age panics from 1863 to 1913. You can google the panics of 1819, 1837 and 1857 separately. It's a million times better to be a bank customer today.

This chart shows that inflation falls when the Fed raises rates. You can play with the data yourself.

My Yahoo Finance colleagues and I have extensively covered Trump's effort to fire the Fed chair, force rates lower and co-opt the central bank.