Your Connection to the Economy and the Federal Reserve
Learn about how the Federal Reserve connects to your daily life.
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Lessons & Activities
1 Hour+
Take a Seat at the Table: FOMC Simulation
OVERVIEW
In this lesson, students are given the opportunity to play the role of a Federal Reserve Bank president in two aspects of a Federal Open Market Committee (FOMC) meeting: the policy discussion and federal funds target rate recommendation. Students will see how the FOMC uses the anecdotal information contained in the Beige Book to inform policy decisions. They will read and evaluate the anecdotal information contained in the Beige Book, then conduct a policy discussion and write a press release explaining their assessment of economic conditions and the policy action agreed upon during the simulation.
Related Resources
INFOGRAPHICS & COMICS
VIDEO Q&A
0-15 MIN
Why Does the Fed Care about Inflation?
Explain what happens when inflation gets out of control.
MODULES
31-45 MIN
The Fed's New Monetary Policy Tools
Explore the new monetary policy tools of the Fed.
READING Q&A
16-30 MIN
Independence, Accountability, and the Federal Reserve System
Introduce the important concept of having an independent central bank creates sound policymaking.
LESSONS & ACTIVITIES
31-45 MIN
Fiscal vs Monetary Policy
Learn about fiscal and monetary policy.
CURRICULUM UNITS
Teaching the New Tools of Monetary Policy
Resources for teaching the Fed's monetary policy tools in an ample-reserves framework.
