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

The Federal Open Market Committee is a 12-member voting body that sits within the Fed

The committee meets every six weeks to decide whether to maintain, raise, or lower the federal funds rate, which determines all lending costs in the US. It consists of the seven permanent central board members, the president of the New York Fed, and four rotating heads of the other 11 regional banks.

Of the 12 voting policymakers at every Federal Open Market Committee meeting, 4 are present on a rotating basis

To allow for diverse regional perspectives in the votes on monetary policy, heads of regional banks hold voting power on two- or three-year cycles.

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 Federal Reserve follows the health of the US economy by tracking the money supply

That includes all of the physical and electronic money in circulation. It tracks not only US coins and bills, but also the money that moves through bank deposits. The Fed uses metrics called trackers to follow different types of transactions through the money supply.

The CME FedWatch Tool predicts the likelihood of future rate changes

It's based on federal fund futures contract prices. At a Fed meeting in July 2024, for instance, Chair Jerome Powell once again decided not to lower rates, though he said cuts could be on the table in September.

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.

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

See all 16 Fed Chairs ranked by stock market performance

Sixteen people have held the office of Fed Chair since 1913, with varying results. From the Fed’s first leader, Charles Hamlin, to Jerome Powell, see in a ranked list how stocks fared for each chair within distinct macroeconomic conditions.

33% of Americans say they don’t know very much about what the Fed does

While most Americans grasp the central bank’s impact on curbing inflation, they don’t know that the Fed is tasked with what is called a “dual mandate” to provide price stability and maximum employment. Furthermore, few understand the Fed is independent—it does not answer to Congress or the US president.

Congressional committees quietly shape most legislation

This video explains how 20 congressional committees—standing, select, and conference—perform much of Congress's work, from drafting legislation and holding hearings to overseeing executive branch agencies.

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.

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 budget process begins nearly a year before funds are spent

Creating the federal budget starts months in advance. This resource explains each stage, showing how the president proposes priorities, Congress reshapes and approves funding, and federal agencies implement the final budget.

Housing 'starts'— new constructions—signal the health and future of real estate

The Federal Reserve Economic Data, or FRED, tracks monthly “housing starts,” the number of new residential construction projects being built. Some argue this data can serve as an economic barometer.

Explore an interactive timeline of the most important moments in the WEF’s history

This interactive traces the World Economic Forum’s evolution from a small European meeting in the 1970s into a global power hub, highlighting pivotal moments in Davos, landmark speeches, and turning points that have shaped its outsized influence on world affairs.

Presidents are required to update Congress on the state of the country from 'time to time'

Article II, Section 3 of the US Constitution says that the president "shall from time to time" give Congress information on the state of the union and recommend measures deemed "necessary and expedient," leaving the timing and format unspecified.

Modern monetary theory argues that governments can spend more without worrying about debt

In this discussion, economists Stephanie Kelton and Rohan Grey join Jon Stewart to explain modern monetary theory and debate whether expansive government spending can address inequality and economic crises without traditional debt constraints.

Explore the countries with a federal system—and see how they work

This resource from the Forum of Federations catalogs the world's federal countries. It provides background information on each, including the emergence of federalism, the division of power, and the practical interaction between national and regional governments.

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

The New Deal shifted economic and social authority to the federal government

Franklin D. Roosevelt's response to the Great Depression expanded federal power through economic regulation and social welfare programs, permanently reshaping federalism by shifting responsibility for financial security to Washington while leaving states to administer many of these programs.

There's a grading room on the eighth floor of the New York Stock Exchange where experts loudly slurp coffee and then spit it out to test its quality

Since many agricultural commodities are traded through futures, testers ensure that the physical product that reaches the market accurately reflects the price. Coffee graders at the NYSE have to pass a four-day-long exam that's only offered every five years and has a less than 10% pass rate.

Explore OPEC’s official webpage

OPEC’s official website offers a comprehensive hub for its core work—featuring press releases, monthly and statistical reports, digital publications like the World Oil Outlook and Annual Statistical Bulletin, and other research center materials.

Read about former FBI Director James Comey's time at Bridgewater Associates

Comey worked at Bridgewater Associates for three years before becoming the director of the FBI in 2013. Comey has said the company's tradition of "probing," or intense questioning, can be more intense than government hearings. During his time at Bridgewater, Comey led multiple investigations into employee conduct—particularly that of former executive Eileen Murray. (Some readers may experience a paywall.)

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.

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.

Read the Federal Trade Commission's legal definition of a monopoly

The Federal Trade Commission and the US Department of Justice (DOJ) Antitrust Division are the regulatory agencies responsible for overseeing antitrust laws. Before deeming any company a monopoly or acknowledging monopolistic power in a market, the FTC conducts thorough research into market competition, price, and even other competitors' business practices.

The FBI once raided Polymarket CEO Shayne Coplan's home

In 2024, after Polymarket markets favored what turned out to be the winning outcome of the US presidential election, agents raided Coplan's New York City apartment. Coplan, who was only 26 years old at the time, was home during the raid and turned over his devices to authorities.

Early Washington lodging was scarce and uncomfortable for new congressmen

Boardinghouses near the Capitol in 1800 were so limited that many congressmen had no private rooms. Albert Gallatin complained that he had to share a bedroom with another congressman, "and look upon the same male faces day in and day out."

The dot-com stock bubble taught Howard Marks about markets

Annual investment letters from Howard Marks, the billionaire cofounder of top distressed debt shop Oaktree Capital Management, are required reading on Wall Street. The prolific writer and investor explains the distinction between the folly of trying to time the market and the necessity of paying attention to market cycles. The difference makes all the difference in returns.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

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

Legendary architect Frank Lloyd Wright designed the SC Johnson headquarters in Wisconsin, aiming to make a cathedral-like workplace

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.

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

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.

The hormonal disorder PCOS was renamed PMOS in 2026, a move designed to improve care and research by shifting the focus to the hormonal causes of this condition that affects 1 in 8 women.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

Doctors differentiate between a phobia and fear by asking patients whether their fear interferes with their day-to-day activities.

Studies suggest when you sleep is as important as how much you get, and syncing with your circadian rhythms may lead to less fatigue and improved long-term health outcomes

How fusion—which releases energy when two lighter atoms combine to form a heavier atom—differs from fission

One disco producer saw 'Star Wars' four times on its opening weekend and was so inspired that he recorded the album 'Star Wars and Other Intergalactic Funk,' which produced a chart-topping single.

Coral polyps reproduce via broadcast spawning, where entire reefs simultaneously release reproductive cells for about one hour, once a year.

'Grand Canyon of the Yellowstone,' a work by American painter Thomas Moran, inspired Congress to establish Yellowstone National Park.

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

Ebola is a filovirus, meaning it resembles a thread under a microscope, though it sometimes twists and can resemble a bowl of spaghetti.

Objects can be 3D printed with light by projecting 2D computerized tomography (CT) scans onto rotating cylinders of resin, which solidify upon exposure.

After her fellow cult members tried to kill her with an LSD-infused hamburger, one member of the Manson Family, the murderous cult led by Charles Manson, decided to testify against the group's leader.

NBA superstar Victor Wembanyama spent the 2025 summer training with monks in central China to enhance his body and mind.