The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

The Federal Reserve Act's foundation was laid in a secretive meeting at the world's most prestigious club

Republican Sen. Nelson Aldrich of Rhode Island organized a highly secretive meeting of the minds at the world’s most prestigious club on Jekyll Island, Georgia, where a who’s who in the financial world hashed out details over the course of a week.

Early Americans hated the idea of a central bank

After a series of economic panics induced by a lack of reserve cash at regional banks, the architects of today’s Federal Reserve opted to emphasize the goal of the bank as a reserve at the federal level—thus creating the lasting name.

The best (and worst) Federal Reserve chairs since 1914

How much power does the Federal Reserve really have?

Although mechanisms for transparency exist, it wouldn’t be difficult for the incredibly powerful institution to go rogue in the wrong hands. In this podcast episode, analysts game out how such a scenario would go.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

The Federal Reserve didn't institute an official no comment period before meetings until 2011

Although Fed governors have largely practiced some version of a blackout period before Federal Open Market Committee meetings where the board decides where interest rates should be since the 1980s, the official blackout period wasn't formalized until 2011. During the blackout, members of the Federal Reserve generally aren't allowed to speak publicly on macroeconomic or monetary policy in order to avoid any confusion over the board's decisions.

The central bank was designed to operate free of short-term political influence to prevent the Fed from making disastrous policy decisions

Although the Fed Chair and the six other Governors of the Board are appointed by the US president and approved by Congress, the Fed is not funded by congressional appropriation, and its board members are appointed to lengthy 14-year terms.

Dive into the fascinating journey of a Federal Reserve note

Ever wondered how long an individual dollar bill lasts? After cash is designed and produced, money circulates in the economy, with $100 bills staying in use for the longest on average—roughly 15 years—and the $10 lasting just less than five.

Harry Dexter White outmaneuvered Keynes to make the dollar the center of the new global monetary system

The chief US Treasury economist at the conference, White, advocated for a dollar-centered exchange rate system over Keynes' competing idea of a new global currency, shaping the postwar economic order for decades.

The Secret Service was originally formed to combat counterfeiting

By the 1860s, an estimated one-third of US currency in circulation was counterfeit. In 1865, the Secret Service was created specifically to combat the country's serious counterfeiting problem, which had led to widespread financial instability. This was partly due to the lack of federal currency standardization in the country at the time.

The mysterious Fort Knox houses much of America’s gold reserves

This fortified vault, built in 1936, is part of the US Mint, but it doesn’t create any currency. Only a presidential order can open Fort Knox—there has not been an audit of its contents since 1953.

The Federal Reserve's decisions can impact your money

Car loans, mortgages, business investments—these and more can be drastically impacted by the adjustment of the Federal Reserve’s federal funds rate. Alternatively, savers can earn higher, low-risk yields on their savings when the Fed’s target rate is higher.

The Eye of Providence on $1 bills is a lightning rod for conspiracy theorists

The symbol is associated with the Freemasons, one of the world’s oldest secret societies. It also appears on churches, Masonic buildings, and the great seal of the United States.

From bartering to banking, temples to electronic transactions, here’s banking has evolved significantly since ancient times

A few historical facts about banking (like that one day, not long ago, certificates of deposit were physical pieces of paper) may not surprise you. But did you know that the church was the original lender? And that Julius Caesar himself invented foreclosure?

Meet Alphonse Desjardins, a credit union pioneer

The first credit union opened in Germany in 1864, but the bank alternative didn’t reach North America until 1901. That’s when Canadian journalist Alphonse Desjardins introduced the concept to his hometown with a starter 10-cent deposit. Desjardins helped launch the first US credit union just eight years later. This engaging timeline highlights Desjardins, his contributions to credit unions, and how the institutions have evolved over the last 100-plus years. Scroll through the timeline here.

Often dubbed the 'king of bank robbers,' George Leonidas Leslie stole an estimated $7M (equivalent to $200M today) and charged other criminals a $20K fee to evaluate their heist plans

Leslie studied architecture and used blueprints of safes and banks to execute meticulously planned bank heists across the Northeast between 1869 and 1878. Although Leslie was an infamous bank robber by night, he posed as a member of high society by day, providing critical intel on the institutions he'd rob and helping conceal his crimes. Months before his largest planned heist, where he planned to turn on his gang, Leslie's body mysteriously washed up along the Hudson River. His killer remains a mystery.

JP Morgan Jr. once angered the nation with his zero-dollar tax bill

In the aftermath of the Great Depression, Congress learned that Morgan and his banking partners had avoided paying any federal income tax in 1931 and 1932. By claiming their losses in the stock market, they seemingly erased what they owed.

The 'Where's George?' project tracked a trail of $1 bills across the US

Over a decade ago, a group dedicated its time to tracking $1 bills in the US. They would stamp single bills with the phrases “currency tracking project” and “Track me at WheresGeorge.com” in a practice they dubbed “Georging.”

In 1915, workers recovered a submarine-like vessel from the Chicago River, prompting fears of German espionage

The forgotten campaign to replace the Teddy Bear with 'Billy Possum'

After a 1909 pre-inauguration dinner for incoming President William Howard Taft featured possums and potatoes as the main course, Susie W. Allgood wanted to produce and market an alternative to the Teddy Roosevelt-inspired teddy bear: Billy Possum. Kids thought it looked too much like a rat.

The Foolkiller: The mysterious submarine at the bottom of the Chicago River

In November 1915, a submarine was found at the bottom of the Chicago River. It had been there for at least 10 years, was 40 feet long, and contained the remains of a man and his dog. To this day, no one knows who built it.

The term ‘Black Friday’ originally referred to a 1869 US gold market crash

After financiers Jay Gould and James Fisk attempted to corner the US gold market, the market crashed on September 24, 1869, bankrupting thousands of investors and sending stock prices plummeting by 18%. That day became known as “Black Friday” long before the unofficial retail holiday emerged.

Dive deep into Madison's role in promoting the Constitution through the Federalist Papers

James Madison used the Federalist Papers to shape ratification debates, explain the Constitution's design, and argue that a large republic could safeguard liberty. This podcast explores his pivotal role in the ratification of the Constitution.

Ridiculous documents released via the Freedom of Information Act

In addition to being a massive asset to journalists and eager members of the public, FOIA has also shed light on some of the weirder corners of America’s functioning democracy. Here are 10 choice documents.

The Manhattan Project created secret cities that didn’t appear on maps

To maintain secrecy, the US built three remote research facilities and entire “secret cities” to house thousands of workers and families. These communities—home to tens of thousands—were omitted from official maps until after World War II.

Trace how the Bill of Rights, inspired by centuries of political theory, took shape between 1774 and 1789.

A live bald eagle named Peter once lived at the original Philadelphia Mint

During the day, he flew around the city, but at night he slept soundly in the first-ever US Mint building. Although he died at some point in the early to mid-1800s, mint artists still study him today when designing new eagle imagery for coins. Luckily, that’s not too difficult, given that mint employees pitched in to stuff him at the time of his death.

One pop-culture historian fooled the nation with a fake origin story of April Fools' Day

In 1983, Joseph Boskin, a professor at Boston University, was interviewed by the Associated Press to discuss the history of April Fools'. Boskin shared a made-up story about a jester who took over Rome for a day and proclaimed that April 1 would henceforth serve as 24 hours of silliness. AP published the fib about "King Kugel," creating buzz and confusion for news outlets around the country.

Hear about the 250-year history of the United States Postal Service, complete with some of its strangest deliveries, important innovations, and the figures that made it an American institution.

At the beginning of the 20th century, a group of young men ate standard American food—replete with food additives like borax and formaldehyde—as part of government research to better understand food safety.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Abraham Lincoln was almost assassinated weeks before his inauguration as he traveled from Illinois to DC through Baltimore in 1861; it took two independent claims for Lincoln to be convinced the threat was real

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Exploring the Larry Bird punch that almost changed March Madness

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

The name 'Silicon Valley' arose from the founding of Shockley Semiconductor Laboratory in Fairchild Semiconductor in 1956-57, founded near Stanford University in Palo Alto

Many legends about George Washington, including his supposed wooden teeth and the story of cutting down the cherry tree, lack evidence.

Clever Hans was a 1900s horse that was believed to be able to solve math equations, tell time, and read and comprehend German, until a psychology student discovered how he got his answers.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

See 33 images that became central to huge scandals, including a young Charles and Camilla, Michael Jackson's baby on a hotel balcony, and Hugh Grant's mugshot.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Famed poet TS Eliot rejected the manuscript for George Orwell's political fable 'Animal Farm,' writing that its criticism of authoritarianism was not 'the right point of view.'

During the French Revolution, a botanist's letter asking about "dear Rhus" (poison ivy) was intercepted, leading authorities to suspect he was conspiring with the Russians.

Walt Disney's early film 'Alice's Wonderland' was a groundbreaking innovation in the silent film era

'Saturday Night Fever,' the 1977 film that introduced disco to the mainstream, was based on a fabricated magazine story.

The first image of a black hole was captured by creating an Earth-sized virtual observatory from a network of eight radio telescopes.

A researcher recently discovered an interview from 1967 between groundbreaking journalist Joan Didion and the Grateful Dead, years before the band became an institution.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight