Federal Reserve Simulator

CAN YOU BEAT INFLATION WITHOUT CRASHING THE ECONOMY?

Federal Reserve Simulator is a turn-based economic strategy game that puts you in charge of the world’s most influential central bank.

Set interest rates, deploy quantitative easing, manage market expectations, and guide the economy through inflation, unemployment, financial panic, and political pressure. Every decision has consequences—and the effects of today’s policy may not arrive for four quarters.

Featured on the Marketplace podcast, where Kai Ryssdal played on air.

SET POLICY—THEN LIVE WITH THE CONSEQUENCES

Control the Federal Funds Rate, Discount Window, reserve requirements, QE, QT, public forecasts, and forward guidance.

Your policies operate with delays. Raise rates too aggressively and you may cause a recession. Cut too quickly and inflation may return. Lose credibility and even the right decision can fail to calm the markets.

• Balance inflation, employment, growth, and financial stability

• Build credibility with markets and the public

• Anticipate delayed policy effects

• Respond to crises before they spiral out of control

• Navigate disagreements inside the FOMC

FACE THE CRISES THAT DEFINED THE FED

Take control during some of the most consequential periods in modern economic history:

• Paul Volcker: Break 14% inflation without destroying the economy

• Alan Greenspan: Survive Black Monday, the dot-com crash, and 9/11

• Ben Bernanke: Confront the Global Financial Crisis and deploy QE

• Janet Yellen: Normalize policy without derailing the recovery

• Jerome Powell: Navigate the pandemic and the return of high inflation

Your performance is measured against the historical record. Follow history—or prove that you could have done better.

THE AI ERA HAS NO SAFE CHOICE

Take the oath in 2026 as Kevin Warsh, with inflation still elevated, markets obsessed with AI, and the White House demanding immediate rate cuts.

The Independence Pendulum forces you to balance pressure from both sides. Defy the President for too long and face a federal investigation. Sacrifice price stability for political approval and Jerome Powell may lead the Board into open revolt.

Use the AI Impact setting to determine whether the technology disappoints, transforms productivity, or creates a jobless market boom followed by a historic equity crash.

DESIGN YOUR OWN ECONOMIC NIGHTMARE

Custom Mode lets you build a scenario around stagflation, deflation, financial collapse, or another economic emergency. Add wildcards such as war, an energy shock, or an automation boom—and discover whether your strategy survives conditions you designed yourself.

For a harder test, enable Prestige Mode for tighter scoring, stronger crises, and much smaller margins for error.

WERE YOU BETTER THAN HISTORY?

At the end of each term, receive a grade from A to F based on inflation, employment, growth, credibility, and financial stability.

Compare your results with the real historical record, unlock achievements across every era, and use the in-game Fedcyclopedia to understand the monetary-policy tools behind your decisions.

The economy is waiting for your guidance. What’s your next move, Chair?