Look up a definition of the Federal Reserve, and you'll see things like "central bank," "monetary policy," and "regulation and stabilization of the financial system." But what does it mean to have a national bank, and how does this government agency impact your ability to have a job, earn and borrow money,  and afford things like groceries, rent, and pet food? 

In this episode, we'll explain how the Federal Reserve came to be, how it works, and how the actions the Fed takes influence our economy. Our guest is Louise Sheiner, policy director at the Brookings Institution's Hutchins Center on Fiscal and Monetary Policy. She spoke with Civics 101 in 2017. 

Want to learn more about the financial crisis of 2008? Here's some of our favorite resources: 

PBS has a list of documentaries about the crisis. Christina loved "Inside the Meltdown" from Frontline. 

"The Giant Pool of Money," from This American Life explores the housing crisis. 

Marketplace has a series of reports on the Great Recession, including its continuing impacts on today's economy. 

• CLICK HERE: Visit our website to see all of our episodes, donate to the podcast, sign up for our newsletter, get free educational materials, and more!
• To see Civics 101 in book form, check out A User's Guide to Democracy: How America Works by Hannah McCarthy and Nick Capodice, featuring illustrations by Tom Toro.
• Check out our other weekly NHPR podcast, Outside/In - we think you'll love it!