The Fed and How It Got That Way Here is a quick history of the Federal Reserve and an overview of what it does. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content Mastering Mobile Lingo Do you understand these common mobile slang terms? Best Vacations: By Car, By Ship, By Foot, Once in a Lifetime Four vacation destinations you might never have thought of. What Do Your Taxes Pay For? Here's a breakdown of how the federal government spends your tax money.