
Take a Look Inside the Federal Reserve Bank of Chicago
Clip: 10/9/2023 | 3m 43sVideo has Closed Captions
The Chicago Federal Reserve Bank of Chicago features more than stacks of cash.
At an upcoming open house, visitors can learn all about the Federal Reserve and get a rare glimpse at an historic and heavily fortified building more than 100 years old.
Problems playing video? | Closed Captioning Feedback
Problems playing video? | Closed Captioning Feedback
Chicago Tonight is a local public television program presented by WTTW
WTTW video streaming support provided by members and sponsors.

Take a Look Inside the Federal Reserve Bank of Chicago
Clip: 10/9/2023 | 3m 43sVideo has Closed Captions
At an upcoming open house, visitors can learn all about the Federal Reserve and get a rare glimpse at an historic and heavily fortified building more than 100 years old.
Problems playing video? | Closed Captioning Feedback
How to Watch Chicago Tonight
Chicago Tonight is available to stream on pbs.org and the free PBS App, available on iPhone, Apple TV, Android TV, Android smartphones, Amazon Fire TV, Amazon Fire Tablet, Roku, Samsung Smart TV, and Vizio.

WTTW News Explains
In this Emmy Award-winning series, WTTW News tackles your questions — big and small — about life in the Chicago area. Our video animations guide you through local government, city history, public utilities and everything in between.Providing Support for PBS.org
Learn Moreabout PBS online sponsorshipWEEKEND.
CHICAGOANS GET THE CHANCE TO TOUR SOME OF THE MOST HISTORIC BUILDINGS IN THE CITY IS PART OF OPEN HOUSE CHICAGO.
THAT INCLUDES ONE VERY FORTIFIED BUILDING THAT SITS AT THE HEART OF THE NATION'S FINANCIAL SYSTEM.
AND WE'VE GOT A SNEAK PEEK.
WE'RE LIKE THE NEIGHBORHOOD.
>> THAT WAS SET UP BY THE FEDERAL RESERVE ACTED 1913, AUSTAN GOOLSBEE SERVED AS A TOP ECONOMIC ADVISER IN THE CABINET OF FORMER PRESIDENT BARACK OBAMA.
NOW HE'S PRESIDENT OF THE CHICAGO FEDERAL RESERVE BANK, ONE OF 12 REGIONAL FEDERAL RESERVE BANKS THAT MAKE UP THE NATION'S CENTRAL BANKING SYSTEM.
GOOLSBEE IS ONE OF THE VOICES ON THE FED'S OPEN MARKET COMMITTEE THAT DECIDES WHAT TO DO WITH INTEREST RATES.
SPECIFICALLY THE FEDERAL FUNDS RATE.
WE DO BASICALLY 3 THINGS AT THE RESERVE BANK'S AND I GO TO THE FOMC MEETINGS WHERE THEY VOTE ON THE INTEREST RATES.
SECOND, WHERE THE SUPERVISOR REGULATOR OF A LOT OF BANKS IN THE DISTRICT AND 3RD, THE FED IS KIND OF THE BANK TO THE BANKS THIS WEEKEND.
VISITORS CAN LEARN ALL ABOUT IT AND GET A RARE GLIMPSE AT A HISTORIC AND HEAVILY FORTIFIED BUILDING.
MORE THAN 100 YEARS OLD.
THEY WILL GET TO SEE ANY VAULTS OF CASH.
JUST THIS ORNATE LOBBY WITH 12 COLUMNS REPRESENTING THE 12 BRANCHES OF THE FED.
BY THE WAY, THOSE VAULTS OF CASH ARE HOLDING WITH BILLIONS OF COLD, HARD DOLLAR BILLS AT ANY GIVEN MOMENT.
WE'RE UNDER 10200 MILLION DOLLARS OF CASH IN AND OUT OF YOUR EVERYDAY.
YOU GO TO YOUR ATM MACHINE.
YOU GET A $20 BILL CHANCES ARE IT PROBABLY WAS SITTING IN OUR VALE GOT SENT OUT.
THEIR GOALS BE SAYS THE GOAL IS TO GIVE THE PUBLIC A GLIMPSE INTO WHAT CAN BE SEEN AS A VERY SECRETIVE ORGANIZATION.
IT'S IMPORTANT AS PART OF THE FED SYSTEM THAT PEOPLE SEE.
IT'S NOT A CRAZY CONSPIRACY.
THERE'S NOTHING BUT PEOPLE ARE IN HERE DOING THEIR JOBS, TRYING TO KEEP THE FINANCIAL SYSTEM SAFE.
THE BEST WAY TO GET EDUCATED IS IN THE MONEY MUSEUM, WHICH IRONICALLY IS FREE TO THE PUBLIC VISITORS CAN GAWK AT A GIANT CUBE HOLDING 1 MILLION DOLLARS IN CASH AND LEARN EVERYTHING THEY MIGHT NOT HAVE KNOWN ABOUT WHAT'S IN THEIR WALLET.
FOR INSTANCE, THERE'S A GREAT CHANCE YOUR DOLLAR BILL SAT IN THIS VERY BUILDING BEFORE ENTERING THE WORLD ON THE LEFT SIDE OF EVERY ONE DOLLAR BILL, A LETTER INDICATES WHICH FED BANK IT CAME FROM G MEANS CHICAGO.
I'VE GOT AN OFFICIAL, CHICAGO FEDERAL RESERVE BANK NOTE IN MY WALLET HERE THAT I CAN GO BUY A GUN WITH YOU CAN AND JUST TO BE SURE THAT ACTUAL CASH I'M CARRYING IN MY WALLET.
THIS EXHIBIT EXPOSES COUNTERFEITS.
IF THEY PUT THE UV LIGHT, YOU SEE YOU'VE GOT THE STRIPS.
PUT THE BILL BEHIND THIS MAGNIFYING GLASS, LIGHT UP THE BACKGROUND AND YOU SHOULD SEE A STRIP ON RIGHT SIDE AND A LITTLE WATER MARK OF MISTER FRANKLIN FURTHER TO THE RIGHT.
IF NOT WELL, THEN PLEAD IGNORANCE AND WHAT WE HAVE A TOP ECONOMIC OFFICIAL LIKE MISTER GOOLSBEE, WE SHOULD PROBABLY ASK HIM WHAT'S GOING TO HAPPEN TO THOSE INTEREST RATES AND WHETHER THE FED CAN BRING DOWN INFLATION WITHOUT CAUSING A RECESSION.
THEY'RE BASICALLY HAS NEVER BEEN A CENTRAL BANK NOT TO SEE THE FED, BUT AROUND THE WORLD.
THAT BEEN ABLE TO BRING INFLATION DOWN THIS MUCH WITHOUT HAVING A BIG RECESSION FOR SOME REASONS.
I THINK RIGHT NOW WE MIGHT BE ABLE TO PULL IT OFF.
IT'S CERTAINLY NOT A GUARANTEE.
AND WE'VE GOT A LOT BUMPS IN THE ROAD THAT WE HAVE TO NAVIGATE.
SPEAKING OF DRIVING INFLATION DOWN ONE FUNCTION OF THE CHICAGO FED IS TO TAKE OLD OR WARN DOLLAR BILLS OUT OF CIRCULATION.
HOW DO THEY DO THAT BY SHREDDING THEM AND GIVING THEM AWAY AS SOMETHING AKIN TO A PARTY FAVOR.
REMEMBER THAT YOUR NEXT BIRTHDAY?
THE ANNUAL OPEN HOUSE.
CHICAGO RUNS THIS WEEKEND, OCTOBER 14TH AND 15TH AND INCLUDES SITES LIKE >> WALT DISNEY'S BIRTHPLACE,
Israel Increases Gaza Airstrikes After Incursions by Hamas
Video has Closed Captions
Clip: 10/9/2023 | 6m 57s | Yinam Cohen, the consul general of Israel to the Midwest, on the Hamas attacks. (6m 57s)
Report Spotlights How Chicago's Theaters Are in Crisis
Video has Closed Captions
Clip: 10/9/2023 | 9m 43s | Chicago's theaters have yet to recover from the COVID pandemic. (9m 43s)
Providing Support for PBS.org
Learn Moreabout PBS online sponsorship
- News and Public Affairs

Top journalists deliver compelling original analysis of the hour's headlines.

- News and Public Affairs

FRONTLINE is investigative journalism that questions, explains and changes our world.












Support for PBS provided by:
Chicago Tonight is a local public television program presented by WTTW
WTTW video streaming support provided by members and sponsors.

