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The Federal Reserve Bank of Philadelphia has released a new educational video, The Federal Reserve and You, which gives viewers a look inside the Federal Reserve System and highlights the Fed's role in the U.S. economy.

The video was primarily produced for high school students studying economics, business, social studies, or related subjects. At the same time, the video has broad appeal for individual consumers, consumer groups, and business groups that want to gain an understanding of the Federal Reserve.

The Federal Reserve and You is organized into an overview and six additional chapters covering topics such as the history of central banking in the United States, money and banking, monetary policy, supervision and regulation of banks, and the payments system. Each chapter contains shorter segments that explain aspects of the larger topic. This segmented approach enables viewers to play one segment at a time or to watch entire chapters. The 24-minute overview, chapters, and individual segments are available for streaming online or you may order the video on DVD for free.

Two young on-screen hosts appear throughout the video and explain some of the more complex facets of the Fed using easy-to-understand terms and examples. Informative graphics, detailed animations, historical reenactments, and interviews with leaders from across the Federal Reserve System complement their dialogue, helping viewers to visualize and conceptualize the information.

"Economic and financial education supports not only individual well-being but also the economic health of our nation. The Federal Reserve and You is a great resource for learning about the Federal Reserve and its role in our nation's economy," said Federal Reserve Chairman Ben Bernanke.

This video is a welcome addition to the Federal Reserve Bank of Philadelphia's and the entire Federal Reserve System's wide range of educational materials and lesson plans, specifically designed for K-12 classrooms, on economics and personal finance. The Philadelphia Fed's economic education team, which holds numerous teacher-training programs throughout the year, has a long history of working with educators.

"We strive to always follow best practices in the field of economic education," said Andrew T. Hill, Ph.D., economic education advisor at the Philadelphia Fed. "Video continues to be one of the most effective teaching tools inside and outside the classroom, and its influence is growing as online video streaming and sharing sites make video content more accessible -- and more powerful -- than ever."

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.

Source: Federal Reserve Bank of Philadelphia