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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 originalPlanet Moneypodcast episodehere! Subscribe to our video serieshere— and while you're at it,subscribe to our podcast.

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

Bronson Arcuri is a video producer at NPR, where he directs the "Planet Money Shorts" video series and helps out with Tiny Desk Concerts from time to time. He also produced "Elise Tries" and "Ron's Office Hours" along with the "Junior Bugler" series, which he still insists was "pretty good for what it was."