5 things you need to know about the Federal Reserve

The Federal Reserve building sits in lower Manhattan. The powerful government institution regulates our entire economy, and a new leader will soon take the helm amid an unprecedented period for the Fed. (Getty Images)


5 things you need to know about the Federal Reserve

For many Americans, President Obama's pick for the next head of the Federal Reserve is just another boring Beltway fight.But it could have serious repercussions on your everyday life. Every time you swipe a debit or credit card, pay an ATM fee or take out a loan for a car, education or home, you’re governed by the Federal Reserve's policies.The powerful government organization is tasked with the enormous job of overseeing the United States economy and its thousands of financial …

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