The Fed is easily the most influential market participant in the world. The words of a Fed chair can send markets to the moon, or into despair. But the Fed is a rationale actor whose actions can be understood and predicted. This course goes over the Fed's dual mandate, the tools it uses to carry out its task, and describes their impact on the real and financial economy. Case studies: "Higher for Longer," Reverse Wealth Effect, Taper Tantrum, Corporate Credit Facility.