VIDEO: Inside the US Federal Reserve

On 23 December 1913, President Woodrow Wilson signed the Federal Reserve Act creating the US central bank that this month celebrates its 100th birthday.

Created in the wake of financial panics of the early 20th century - and in the teeth of deep suspicion of centralised power - it is now perhaps the most powerful financial institution on the planet.

BBC business reporter Simon Jack was granted rare access to the Federal Reserve's inner sanctum - just a stone's throw from the White House.

Inside the Fed, BBC Radio 4, Tuesday 10 December, 20:00 GMT, or listen again on the BBC iPlayer.

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Many Iowa schools not meeting federal standards

DES MOINES, Iowa (AP) — More than half of Iowa's schools did not meet educational targets set by the No Child Left Behind Law during the latest academic year, according to a report released Tuesday.

But State Education Department Director Brad Buck said the results make clear that the federal program is a bad fit for states and needs to be revised.

Buck says the current system doesn't acknowledge different needs in different schools. He also says schools making progress with disadvantaged...

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