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Federal Reserve facts

While investigating facts about Federal Reserve Interest Rate and Federal Reserve Cut Interest Rates, I found out little known, but curios details like:

In 2016 a group of hackers almost stole $1 billion from the New York Federal Reserve, but were discovered when they spelled “foundation” as “fandation” in money request transcripts. They still managed to get away with $81 million.

how federal reserve works?

After a Federal Reserve interest rate decision in 2013, trades were registered in the Chicago stock market within 2 milliseconds of the announcement. These trades were later found to be insider trading, as this information would take 7 milliseconds to reach Chicago at the speed of light.

What does the federal reserve do?

In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what is the federal reserve interest rate. Here are 50 of the best facts about Federal Reserve Bank Of New York and Federal Reserve Act I managed to collect.

what is the discount window at federal reserve?

  1. The heist in Die Hard with a Vengance was so plausible that the FBI questioned the screenwriter leading to the Federal Reserve changing their security protocal.

  2. 48% of Americans can immediately come up with $400 in emergency cash without borrowing it or selling something (via 2013 Federal Reserve report)

  3. According to a Federal Reserve Bank study, poor kids who do everything right don’t do any better than rich kids who do everything wrong. It's called "opportunity hoarding," so not only is there a glass ceiling, there's also a glass floor.

  4. During WWII the Federal Reserve printed special money for Hawaii to make it easy to render the bills useless if the Japanese overtook Hawaii.

  5. During Clinton's presidency, then Chairman of the Federal Reserve Alan Greenspan forced Clinton to reduce the deficit by threatening interest rate hikes. Greenspan later wrote in his book about how he singlehandedly put a stop to Clinton's progressive policies.

  6. If the US used a dollar coin instead of a bill it would save $5.5 billion over 30 years. It mints dollar coins, but unlike other developed countries, won't remove the bill from circulation, possibly due to lack of support by Federal Reserve.

  7. From 2003 to 2008 over $40 Billions in cold, hard, cash were flown from the Federal Reserve to Baghdad. Now nobody knows what happened to the money.

  8. In 2013, trades were registered in Chicago within two milliseconds of a Federal Reserve announcement to raise interest rates. This was later proven to be insider trading, as that information would take three milliseconds to get to Chicago at the speed of light.

  9. Liquid Helium is the coldest substance on earth, and is critical to MRI machines and medical research. The US is intentionally depleting and disbanding its Federal Helium Reserve and will have to rely on Russian and Qatar in the future.

  10. The Federal Reserve Bank in Cleveland has the world's largest bank vault door (91 tons) and the largest hinge ever built (43 tons)

federal reserve facts
What was the federal reserve act?

Federal Reserve data charts

For your convenience take a look at Federal Reserve figures with stats and charts presented as graphic.

federal reserve fact data chart about Total Count of Statements and Speeches of Members of the Boa
Total Count of Statements and Speeches of Members of the Board of Governors of the Federal Reserve System: 1960 - 2015

federal reserve fact data chart about 100 years of the fed: the devaluation of the u.s. dollar sin
100 years of the fed: the devaluation of the u.s. dollar since the creation of the federal reserve

Why federal reserve was created?

You can easily fact check why federal reserve is private by examining the linked well-known sources.

The US federal government has reserved an area code (710) with only one working number: 710-627-4387

The MUI, or Men's Underwear Index, an unconventional economic indicator championed by former Federal Reserve chairman Alan Greenspan. It measures how well the economy is doing based on the sales of men’s underwear. - source

The tenth amendment states that power not given to the federal government through the Constitution or prohibited to the states by the Constitution is reserved for the states or the people.

Sitting Bull was killed on December 15, 1890 when federal officers attempted to arrest him for planning to leave the reservation and for taking part in the Ghost Dance movement. A struggle ensued with Sitting Bull, several of his supporters, and some federal officers dying in a shootout.

Highway signs in the USA cannot use the colors coral or light blue because "these colors are being reserved for uses determined in the future by the Federal Highway Administration" - source

When federal reserve meeting?

The $2 bill was never removed from circulation, but is only printed by special request of the Federal Reserve System. There is still $1,549,052,714 worth of $2 bills in circulation worldwide.

How federal reserve was created?

During the construction of the first atomic bomb, American generals requested to borrow 6000 TONS of silver from the federal reserve. In the end, only 1/3,600,000, or 3 pounds, was lost when it was returned.

Most of Northeast Oklahoma is now a federally-recognized sovereign Cherokee Nation. It is not an Indian reservation.

United States currency is not backed by gold or any other commodity. Under the Federal Reserve Act, Congress specified that Federal Reserve Banks must hold collateral equal in value to the notes in circulation. That collateral is government-sponsored enterprise securities.

The Federal Reserve Bank of New York is reputedly the largest gold repository in the world, even larger than Fort Knox. However about 98% of this gold is owned by the central banks of foreign nations.

The Federal Reserve Bank isn't a part of the USA government, but is a private, for-profit corporation. With a monopoly on our money.

When federal reserve created?

The Federal Reserve building in Richmond, VA is based off the WTC, designed by the same architect.

It costs the Federal Reserve more to print a $5 bill than to print a $10 bill. A $5 bill costs 10.9¢ while a $10 bill only costs 9.9¢.

The Federal Reserve Building of Richmond is nearly 400' tall yet has 49% of its floor area under ground.

No branch of the government has ANY power over the Federal Reserve, none of them even have the authority to ENTER the federal reserve building

How federal reserve started?

The average lifespan of US currency is about 5 years. The Federal Reserve regularly evaluates the quality of notes in circulation and destroys roughly 6 million dollars cash a day.

The NY Federal Reserve contains more gold than Fort Knox and charges foreign nations who keep their reserves there $1.75 to move a single bar

The $100,000 bill was printed at the height of the Great Depression on December 18, 1934. These bills were only swapped between Federal Reserve banks and fell out of circulation after wire transfers were invented.

The world has a Helium shortage because it bleeds off into space, the U.S. alone produces 75 percent of the world's helium, and the U.S. Federal Helium Reserve is stored in a huge natural underground reservoir near Amarillo called the Bush Dome.

The U.S. Government owes twice as much to the Federal Reserve as they do to China

The Manhattan Project "borrowed" 14,700 tons of silver from the Federal Reserve to make the U235 needed for nuclear weapons

The Atlanta Federal Reserve stopped a 1930 bank run not by actually bailing them out, but by placing piles of cash in key banks to give these banks the illusion of liquidity

The largest bill ever printed in US currency was $100,000 between 1934 and 1935, featuring Woodrow Wilson and used for large federal reserve transactions.

The Federal Reserve Made $82 Billion from the 2008 Housing Bubble

Area code 710 is a special area code, reserved for the US federal government since 1983. It has only one working number, 710-NCS-GETS (710-627-4387), which requires a special access code to use.

The Federal Reserve Bank of New York Building, in Lower Manhattan, serves as the largest gold repository in the world, holding approx. 7000 tonnes of gold bullion ($415 billion as of October 2011) on behalf of the US governement, the IMF, and the central banks of 36 foreign nations.

The Federal Reserve is owned by the big banks and not a public service

The Federal Reserve is technically unable to lose money through an accounting rule

This is our collection of basic interesting facts about Federal Reserve. The fact lists are intended for research in school, for college students or just to feed your brain with new realities. Possible use cases are in quizzes, differences, riddles, homework facts legend, cover facts, and many more. Whatever your case, learn the truth of the matter why is Federal Reserve so important!

Editor Veselin Nedev Editor