How the Federal Reserve Works

How the Federal Reserve Works

Have you ever taken a close look at paper money? Each U.S. bill has the words “Federal Reserve Note” imprinted across the top.¹

But many individuals may not know why the bill is issued by the Federal Reserve and what role the Federal Reserve plays in the economy. Here’s an inside look.

The Federal Reserve, often referred to as the Fed, is the country’s central bank. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.² Prior to its creation, the U.S. economy was plagued by frequent episodes of panic, bank failures, and limited credit.

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Getting a Head Start on College Savings

Getting a Head Start on College Savings

The U.S. Department of Agriculture estimates a middle-income family with a child born in 2015 can expect to spend about $275,000 to raise a child to the age of 17. That’s’ roughly equal to the median value of a new home in the U.S.

And if you’ve already traded that super-charged convertible for a minivan, you can expect your little one’s college education to cost as much as $324,000.

But before you throw your hands up in the air and send junior out looking for a job, you might consider a few strategies to help you prepare for the cost of higher education. 

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