If you’ve never studied how America’s banking and financial system works before, it’s definitely worth spending some time on and researching. Doing so will help you better understand macroeconomic forces and how you can safely ride the waves of financial uncertainty in today’s economy.

There’s no better place to start learning about the US economy than the nation’s central bank—the United States Federal Reserve. There are some great Federal Reserve books available that are definitely worth reading.

Here are some facts you will learn when reading Federal Reserve Books:

  • The Federal Reserve controls over $2 trillion in assets.
  • There is significant debate over the constitutionality of the Federal Reserve’s economic powers
  • The Federal Reserve is a private institution, not a public entity.
  • The Fed has a monopoly on issuing currency in the United States

Here are some books about the Federal Reserve worth picking up:

The Monetary Policy of the Federal Reserve: A History (Studies in Macroeconomic History)

“The Monetary Policy of the Federal Reserve details the evolution of the monetary standard from the start of the Federal Reserve through the end of the Greenspan era. The book places that evolution in the context of the intellectual and political environment of the time. By understanding the fitful process of replacing a gold standard with a paper money standard, the conduct of monetary policy becomes a series of experiments useful for understanding the fundamental issues concerning money and prices.” – Amazon.com

A History of the Federal Reserve, Volume 1: 1913-1951

“Allan Meltzer… has delved deeply into the history of the Federal Reserve System, with a result that will add substantially to the discourse on the institution’s role and development. He has reviewed the records of policy discussion at an extraordinary level of detail, and his analysis illuminates the contributions of the many fascinating individuals who shaped the Federal Reserve System we know today.” – Amazon.com

The Complete Idiot’s Guide to the Federal Reserve

This book is an excellent introduction to how the Federal Reserve System works. It’s written by an insider, but it’s a great tool to understand just how the Federal Reserve System functions on a level that’s accessible by people without a thorough understanding of economics.

End the Fed

“In the post-meltdown world, it is irresponsible, ineffective, and ultimately useless to have a serious economic debate without considering and challenging the role of the Federal Reserve.

Most people think of the Fed as an indispensable institution without which the country’s economy could not properly function. But in END THE FED, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don’t realize is that the Fed — created by the Morgans and Rockefellers at a private club off the coast of Georgia — is actually working against their own personal interests. Congressman Paul’s urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America’s economic policy for future generations.” – Amazon.com