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

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

Get the inside story of the duck hunt that birthed the Federal Reserve

Pseudo-duck hunters, private train cars in Hoboken, and a thrilling work week over Thanksgiving 1910—all and more are featured in the wild story of how a group of fed-up bankers and lawmakers tried to create an enduring central bank for the US. Records of the meeting managed to remain hidden for decades.

The Federal Reserve is the most powerful financial institution in the US

The Fed controls the money supply, determines interest rates, and regulates the banking system. Established in 1913 after a volatile series of financial panics, the central bank has managed to retain its legitimacy despite broad critiques against its obscure and independent decision process.

The best (and worst) Federal Reserve chairs since 1914

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 two-day marathon meetings of the Federal Open Market Committee follow a logical process of information sharing

In a stately room in the Eccles Building in Washington, DC, the 17 participants of the FOMC and their aides report on economic conditions and decide monetary policy.

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.

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.

Hear about the secret room where your rights are decided

A court designed to be the least powerful branch became one of the most influential institutions in history. 1440 Explores host Sony Kassam dives inside the Supreme Court of the United States, with help from Yale law professor Akhil Reed Amar, to uncover how it gained extraordinary authority, what really happens behind closed doors, and why its power has become one of the most fiercely contested questions in modern democracy.

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.

Rhode Island skipped the Constitutional Convention

Delegates from 12 of the original 13 states attended the 1787 Constitutional Convention. Rhode Island initially refused to participate, fearing centralized power. The state eventually joined the new republic after its ratification.

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.

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.

Benjamin Franklin founded America's first lending library in 1731

Franklin convinced members of his intellectual club to pool resources and purchase books none could afford individually. The Library Company of Philadelphia was founded with 50 shareholders, each contributing 40 shillings, and served as the unofficial, de facto Library of Congress from the Revolutionary War until 1800.

The 1941 Atlantic Charter was a World War II alliance and model for the UN

The Atlantic Charter was a pivotal 1941 agreement between Franklin D. Roosevelt and Winston Churchill, outlining shared goals for a post-World War II world rooted in freedom and self-determination. These ideals later inspired the founding principles of the United Nations.

Time magazine named Ray Dalio one of the 100 most influential people in 2012

Dalio's profile, written by former Federal Reserve Chairman Paul Volcker, praised Dalio for his investment strategy and his deep understanding of economics, if unorthodox at times. Volcker particularly appreciated Dalio's support for the Federal Reserve's handling of the 2008 financial crisis. Dalio and Volcker were longtime friends—Dalio has referred to Volcker as "the most principled man" he knows.

Listen to the methods and strategy of the secretive S&P 500 selection committee

Stocks are added to the S&P 500 by a secret selection committee that meets regularly to assess which companies can remain in the index, which companies need to be added, and which companies no longer meet the criteria. The members of the committee used to be public, but S&P Global decided to keep its members confidential after companies sent packages, letters, and gifts to try to make it into the index.

There is a secretive bomb-proof bunker located under the White House

Built in 1942 during World War II, the Presidential Emergency Operations Center lies beneath the East Wing. Designed to protect the president during air raids—and later nuclear threats—it remains a top-secret command site used during crises like 9/11.

Federalist 10 argued that a large republic best protects liberty

In Federalist 10, James Madison argued that a broad federal government could better control factions than small states (like classical city-states in ancient Greece). This foundational text in American political thought reframed the Constitution as a solution to political division rather than a threat to self-government.

The United States currently ranks number one for countries that enable the most financial secrecy

Financial secrecy refers to complex systems that make it easy for people and companies to hide assets. High levels of financial secrecy are associated with illegal activity, like drug trafficking and money laundering. Lax regulations around reporting who owns trusts, real estate, and businesses impact the United States' global financial secrecy ranking.

The Illuminati were a real espionage society in the 1770s

Bavarian professor Adam Weishaupt founded the group in 1776 as an anti-clerical, anti-royalist sect that used hierarchy, codes, and surveillance as a proto-spy network. Within a decade, it was suppressed, but the mythology never quite died. Today, it functions as an adaptable conspiracy theory, able to fit any era's anxieties about who really holds power.

The FBI surveilled Roosevelt for decades, suspicious of her civil rights and political work

J. Edgar Hoover's FBI maintained a large file on Eleanor Roosevelt, monitoring her involvement with civil rights groups, connections to progressive causes, and vocal opposition to McCarthyism. Although a formal investigation was never initiated, Hoover regarded her as a person of interest for most of her adult life.

The American Research and Development Corporation is considered the first modern VC firm

Best known for investing in companies that wanted to utilize some of the technology developed during World War II, the ARDC’s cofounders all held prestigious positions at places like MIT and the Federal Reserve Bank of Boston.

How Congressional oversight can override confidentiality in the NSF's proposal review process

In 2014, to investigate claims that the NSF was funding wasteful research rather than proposals that served national interests, confidential grant files were provided and reviewed by members of the House Science Committee. The actions, led by Lamar Smith (R-TX), were denounced by the scientific research community. (Some readers may experience a paywall.)

16 credit unions with almost no membership requirements

One of the hallmarks of credit unions is that they tend to be exclusive. For instance, one of the largest credit unions only does business with Boeing employees. However, this roundup introduces 16 credit unions that have practically no membership requirements. Interested customers may need to guarantee $5 minimum deposits and in some cases, make a donation to an affiliated charitable organization.

Grant's third-term ambitions helped create the GOP's elephant symbol

In 1874, as Republicans debated Ulysses S. Grant possibly seeking a third term, Harper's Weekly ran a Thomas Nast cartoon showing a panicked elephant labeled "The Republican Vote." The image caught on, cementing the elephant as the GOP's enduring symbol.

See who attended Davos 2025

Each year, Davos draws one of the most exclusive guest lists in the world. In 2025, attendees included 60 heads of state, over 900 CEOs and corporate chairs, and top leaders from global civil society, who gathered in the Swiss Alps.

The rivalry between Alexander Hamilton and Thomas Jefferson centered on federalism—the question of how much power the federal government should hold relative to the states.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

Meet the 56 signers of the Declaration of Independence—most of whom didn't put pen to paper until August 2, 1776—and see their original signatures.

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.

Despite being favored by 87% of Americans, Congress does not have term limits.

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

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

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

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.

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.

US intelligence allegedly pursued more than 600 schemes to assassinate Cuban revolutionary Fidel Castro.

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.

In 1963, a basement renovation in Turkey revealed a passageway to a hidden, multilevel underground city that once housed as many as 20,000 people

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

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Against his wishes, Albert Einstein's brain was removed before his cremation, and the pathologist responsible stored it for decades in mason jars within a beer cooler.

American dance legend Martha Graham, sometimes called 'the Picasso of dance,' refused to perform at the 1936 Olympics in Berlin and conceived the piece 'Chronicle' in response to the experience.

A 2019 Facebook event called on attendees to "Storm Area 51, They Can't Stop All of Us," resulting in countless memes, the creation of a music festival, and eventually the arrests of those who did try to approach the area.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

Fish populations in the Great Barrier Reef have increased after installing waterproof speakers on the ocean floor that played recordings of sounds from healthy coral reefs.

See how Budweiser's famous Clydesdales spend their days at Warm Springs Ranch, where roughly 70 to 80 of the beer brand's giant horses can be found at any given time.

A small portion of The Winstons' 'Amen, Brother,' an obscure '60s gospel record, is the basis for thousands of hip-hop tracks, making it one of the most sampled records ever that's informally known as 'the Amen break.'