Tom Cunningham, vice president, senior economist, and regional executive of the Federal Reserve Bank of Atlanta, gives an economist's view of the early history of central banking in the United States. He focuses on the evolution of banking from the late 1700s through the Great Depression, with a special focus on the Fed's role in the Depression.
Section 1: Early History of Central Banking (4:37)
Section 2: Panic of 1907 (5:38)
Section 3: Creation of the Federal Reserve System (3:28)
Section 4: The Federal Reserve and the Great Depression (5:36)