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 Rightsizing for Retirement What does your home really cost? To Buy or Not to Buy The decision whether to buy or rent a home may have long-term implications. 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.