The Fed and How It Got That Way Here is a quick history of the Federal Reserve and an overview of what it does. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content Starting a Roth IRA for a Teen This early financial decision could prove helpful over time. Required Reading: The Economic Report of the President The Economic Report of the President can help identify the forces driving — or dragging — the economy. Principles of Preserving Wealth How federal estate taxes work, plus estate management documents and tactics.