Photo: #Federal Reserve Chairman Ben Bernanke addresses the Economic Club of Minnesota Thursday, Sept. 8, 2011 in Minneapolis. Bernanke said he's surprised by how cautious consumers have been in the two years since the recession officially ended. But the Fed chief offered no hints of any steps the Fed would take to boost the weak economy.
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Federal Reserve Chairman Ben Bernanke addresses the Economic Club of Minnesota Thursday, Sept. 8, 2011 in Minneapolis. Bernanke said he's surprised by how cautious consumers have been in the two years since the recession officially ended. But the Fed chief offered no hints of any steps the Fed would take to boost the weak economy. (AP Photo/Jim Mone)

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Economist explains the Federal Reserve System


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How does the Federal Reserve actually work, what does it do, and why is the system and its leaders so controversial?

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  • Ed Lotterman: Economist. Economics professor at Augsburg College in Minneapolis. Former regional economist at Federal Reserve Bank of Minneapolis. Pioneer Press columnist, "Real World Economics."

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