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What The Fed Was Designed To Do

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COVID-19 isn't the first natural disaster to shake the world economy, but today we're more prepared for one than ever.

In 1906, an earthquake in San Francisco started a chain of events that destroyed the U.S. economy by 1907. It also led to the creation of the country's most powerful economic tool: the Federal Reserve.

Listen to the original Planet Money podcast episode here! Subscribe to our video series here — and while you're at it, subscribe to our podcast.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

Bronson Arcuri is a Senior Producer on NPR’s visuals team. In that role, he focuses on developing new video formats and producing original documentary projects for the network's digital platforms and news programs.