10 fun Federal Reserve facts

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The U.S. Federal Reserve, responsible for setting monetary policy and tasked with monitoring unemployment and other economic markers, has been around for over 100 years. Its history hasn’t been all inflation and interest rates. Believe it or not, the Fed has a not-so-serious side, too. Did you know Alan Greenspan, Fed chairman from 1987 to 2006, studied music at The Juilliard School and played jazz saxophone with Stan Getz? He also was friends with Ayn Rand and had lunch with the “Atlas Shrugged” author on a regular basis.

Learn a few fun facts surrounding the world’s most powerful central bank.

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Sources: The Children’s Museum of Indianapolis, U.S. News & World Report, FDIC.gov, Bloomberg Businessweek, Yahoo! and Babson College Finance Professor John C. Edmunds, CNBC, Federal Reserve Bank of Minneapolis, Sverigas Riksbank.

Written by
Kim Porter
Contributing writer
Kim Porter is a personal finance expert who loves talking budgets, credit cards and student loans. In addition to serving as a contributing writer for Bankrate, Porter also writes for publications such as U.S. News & World Report, Credit Karma and Reviewed.com. When she's not writing or reading, you can usually find her planning a trip or training for her next race.