NPR: Planet Money Podcast

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Money makes the world go around, faster and faster every day. On NPR's Planet Money, you'll meet high rollers, brainy economists and regular folks -- all trying to make sense of our rapidly changing global economy.

NPR: Planet Money Podcast navigateright Episode

#505: A Locked Door, A Secret Meeting And The Birth Of The Fed

On today's show, we tell the creation story of the Federal Reserve — one of the most powerful financial institutions on the planet.

The story includes a 70-year-old man with a bad head cold and a bunch of mistresses, a nation that's deeply ambivalent about a central bank, and a secret meeting at an island with a sketchy name.