This is the most expensive rug ever sold. This beautiful seventeenth century Persian rug sold for nearly $34 million today at a Sotheby's auction in New York City.
The current chair is Janet Yellen, who took over for Ben Bernanke on February 3, 2014. There are 12 regional Federal Reserve Banks located in major cities around the country that operate under the supervision of the Board of Governors.
Mike Bryan, vice president and senior economist at the Federal Reserve Bank of Atlanta, gives an economist's view of the inner workings of fractional reserve banking. He describes the role of the Federal Reserve in the U.S. banking system and clearly explains concepts like the money creation potential of deposits and the money multiplier.