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 Question Thank you! Oops! Related Content What is Life Insurance? Part 1 What is Life Insurance? Part 1 Preparing the Future Generation Discover why we need to plan the future for future generations today. How the Federal Reserve Works Each day, the Fed is behind the scenes supporting the economy and providing services to the U.S. financial system.