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The Federal Reserve is one of, if not the most, significant institutions in the world given the global impact of its policy decisions.

It influences the price of nearly everything, as well as the availability of jobs, the stability of our banking system, and the purchasing power of our money.

When the Fed Chair speaks, the entire world stops to listen.

But the average person has a poor understanding of how this colossally important entity operates or even why it exists. And after a series of asset price bubbles -- which some argue we're in another one now -- a chorus skeptical of the Fed's actions has emerged.

So today we're doing our best to shine as bright a light as possible on the Fed: how & why it operates, the good & as well as the shortcomings of its actions to date, what direction its policies are likely to take from here, and how all of this impacts the households of regular people like you and me.

We have the great privilege of speaking today with Thomas Hoenig, former CEO of the Kansas City Fed, former voting member of the Federal Open Market Committee, a former director of the FDIC, and now a Distinguished Senior Fellow at the Mercatus Center.

Video Length: 01:16:06

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