In normal times, we auction a given amount of central bank credit, mainly in refinancing operations with a one-week maturity, and let competition among bidders determine the interest rate at which that credit will become available to the banking system as a whole. This means that the liquidity injection is restrained by a policy decision. Last autumn, we changed that.
Today, Reserve Banks and the Board continue to offer products and support to teachers and others who want to understand the Fed as an institution, but we also work very hard in the fields of consumer education and financial literacy training. For example, the Federal Reserve System is an active partner in the "America Saves" program developed by the Consumer Federation of America.