As the Federal Reserve System turns 100 this year, it is important to understand how its structure came to be and how it still serves the U.S. well today. In this three-part video series from our Timely Topics from the St. Louis Fed series, David Wheelock, St. Louis Fed vice president and deputy director of research, explains the history and benefits of this unusual structure.
The Fed’s regional structure helps address the problem of groupthink among monetary policy decision makers by facilitating debate through diverse opinions.
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Views expressed are not necessarily those of the Federal Reserve Bank of St. Louis or of the Federal Reserve System.