Money Gods Demystifying the Fed

Will the U.S. economy withstand the shock of the Black Monday stock-market crash, or will it slide into a prolonged recession? The answer will depend on the actions of consumers, companies, the President and Congress -- but perhaps most of all on the policies of the Federal Reserve Board. By controlling the nation's money supply, the Fed can willfully -- or often inadvertently -- speed up the economy or slow it down. Though the chairman and the six other Federal Reserve governors are appointed by the President, they become all- powerful financial gods once they get on the board, and their...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!