In Season 2, Episode 2 of the Skillabration Podcast, Nikki reviews what money is and explains how money is a form of expression, which ultimately leads to financial freedom. As the lesson progresses, students will learn about the history of central banking in the US and the effect monetary policy has on inflation.

Buckle up! This is quite the lecture.

Grab the curriculum here: https://www.teacherspayteachers.com/Product/US-Monetary-Policy-and-How-It-Affects-Financial-Freedom-Homeschool-Curriculum-12494825

Grab the Financial Literacy Bundle Here: https://www.teacherspayteachers.com/Product/Homeschool-Financial-Literacy-Curriculum-12529441

Time Stamps

00:00 - Introduction

01:12 - Disclaimer to Parents

2:04 - Lesson Overview

2:52 - Recap of Lesson 1

3:35 - Warm-up Questions

4:14 - Money Is a Form of Expression

6:16 - How do people view money?

7:38 - Abraham Maslow - Hierarchy of Needs

9:08 - Envision your Future

9:44 - Money as Expression

12:02 - The Middle Class Is Shrinking

14:28 - Inflation

16:02 - Wages and Inflation

16:37 - Case Study: Americans' pay hasn't fully recovered from inflation. Will it ever?

21:27 - How Our Current System Hinders Us

22:42 - How can you attain the American Dream with this type of monetary policy?

23:10 - What's causing inflation?

24:13 - Inflation and Doing Good Research

24:28 - Central Banking

26:13 - Iterations of Central Banking

29:52 - Preparing for a Central Bank

30:46 - The Federal Reserve 1913-Present

31:48 - The Federal Government and The Federal Reserve

32:27 - My Research Findings

33:12 - Central Banking, Monetary Policy, and Economics

33:44 - What is quantitative easing?

37:23 - Don't trust the first answer Google gives you

37:40 - Connection Between Money Printing and Inflation

38:08 - Does Keynesian economics require money printing?

38:59 - Is quantitative easing printing money?

39:17 - My Research Findings Part 2

40:07 - Central Banking, Monetary Policy, and Economics Continued

40:17 - Is QE printing money?

43:13 - What happens with quantitative easing?

44:58 - Quantitative Tightening

45:18 - Summary/Conclusion

45:51 - What is one to do?

46:03 - Recipe for Success

48:08 - What will we be discussing next in Season 2 of the Skillabration Podcast?

Resources

The Hidden Cost of Money by Seb Bunney https://amzn.to/4029Ffj

How 10 Influential Economists Changed America’s History, Investopedia

https://www.investopedia.com/articles/07/economists.asp

Economic Research: A QE Q&A: Everything You Ever Wanted To Know About Quantitative Easing Chief Global Economist and Head of Global Economics & Research: Paul J Sheard, New York

https://www.hks.harvard.edu/sites/default/files/centers/mrcbg/files/PSheardQEQAAugust2014.pdf

History of the Federal Reserve https://www.minneapolisfed.org/about-us/our-history/history-of-central-banking

What Causes Inflation & Price Increases? https://www.investopedia.com/ask/answers/111314/what-causes-inflation-and-does-anyone-gain-it.asp

What is Quantitative Easing? https://www.investopedia.com/terms/q/quantitative-easing.asp

Study: American pay hasn’t fully recovered from inflation. Will it ever?

https://www.bankrate.com/banking/federal-reserve/wage-to-inflation-index/?tpt=b

Inflation vs. wages: How rising prices stack up against growing pay https://www.nbcnews.com/business/economy/inflation-higher-biden-rising-pay-makes-rcna158569

Both Sides of the Ledger: Wage Growth Beating Price Growth Now for 15

Months in a Row https://www.whitehouse.gov/cea/written-materials/2024/06/12/both-sides-of-the-ledger-wage-growth-beating-price-growth-now-for-15-months-in-a-row/

Measuring Inflation Correctly with Peter St. Onge, PhD. https://x.com/profstonge/status/1846891411737596010