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What The Fed Was Designed To Do

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COVID-19 isn't the first natural disaster to shake the world economy, but today we're more prepared for one than ever.

In 1906, an earthquake in San Francisco started a chain of events that destroyed the U.S. economy by 1907. It also led to the creation of the country's most powerful economic tool: the Federal Reserve.

Listen to the original Planet Money podcast episode here! Subscribe to our video series here — and while you're at it, subscribe to our podcast.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

Bronson Arcuri is an award-winning video producer and multimedia journalist. He is currently an editor and managing producer on the NPR video team. In addition to overseeing NPR's video coverage of the ongoing war in Ukraine, he also manages short-form video production for All Things Considered, Life Kit and NPR's international reporting and political coverage. He is also part of the leadership team developing news products for emerging platforms, including Instagram and TikTok.