An announcement video posted to the social media platforms last week stars the "cool" Chairman of the Federal Reserve System himself, Jerome Powell. With his hair slightly askew, not wearing his usual eyeglasses, and flaunting business casual attire, he addresses his audience:
The Fed is America's Central Bank working to promote a healthy economy and a strong financial system. That mission starts with you.
October is National Economic Education Month and throughout the month and beyond, we'll be posting here with information, and other resources how Fed decisions affect you, your family, and your community.
If only this meant the Fed would endeavor to teach the American public about concepts of sound money, the problems of fiat currencies and monetary inflation, the risks of fractional reserve banking, how the Fed enables Big Government and the warfare/welfare state, or even how to be responsible with money.
Instead, of course, the real purpose of Fed's latest propaganda campaign to try burnishing the central bank's increasingly damaged reputation.
According to the Fed, the original intent of starting the Federal Reserve System was to "enhance the stability of the American banking system," while creating more "elasticity" in U.S. currency. This gives privileged elite banks working with the Fed access to the Discount Window, and influence over monetary and fiscal policies.