Inside the Fed: Why Raising Interest Rates Isn’t as Easy as It Sounds

http://www.thefiscaltimes.com/Colum...y-Raising-Interest-Rates-Isn-t-Easy-It-Sounds

Not quite sure how the Federal Reserve creates money? Here is, IMHO, a cogent explanation how the Fed puts it all together. Worth a read. HTH. YMMV.