Federal Reserve Simulator

Federal Reserve Simulator is a turn-based economic strategy game in which you lead the United States Federal Reserve. Each quarter, you weigh inflation against jobs, economic growth and financial stability. Your decisions shape the economy, while crises and political pressure challenge your ability to keep inflation under control without causing an economic crash.

Set monetary policy

You manage the federal funds rate, discount lending and reserve requirements. You can use quantitative easing (QE) or quantitative tightening (QT), publish forecasts and use forward guidance to influence market expectations. The tools available to you change as you move through history.

Policy effects take time to arrive. Raising rates too aggressively can trigger a recession, while cutting them too quickly can bring inflation back. You build credibility so markets trust your statements and navigate disagreements within the Federal Open Market Committee (FOMC). After setting the rate, you watch the economy respond over the following quarters.

Learn the role

A guided first run introduces the controls, your first rate decision and how to read its results. Quarterly Briefings explain what changed, how your policies and outside shocks contributed, and what to watch next. The in-game Fedcyclopedia provides information about monetary-policy tools.

Lead through history

You can take on the terms of five historical Fed chairs:

• Paul Volcker: Bring high inflation under control while managing the costs to jobs and growth.
• Alan Greenspan: Face Black Monday, the dot-com crash and the aftermath of September 11.
• Ben Bernanke: Confront the global financial crisis and use QE to support the economy.
• Janet Yellen: Normalize policy while protecting a fragile recovery.
• Jerome Powell: Navigate the pandemic and the return of high inflation.

The Historical Run takes you from 1920 to 2027. Alternatively, create a Sandbox run lasting 30 to 100 years, with adjustable event frequency and intensity.

Navigate political pressure

In the Kevin Warsh scenario, you take office in 2026 amid elevated inflation, demands for rate cuts and uncertainty about artificial intelligence. The Independence Pendulum tracks pressure from the President and the Fed’s Board. Prolonged defiance can lead to a federal investigation, while yielding to political pressure can provoke a Board revolt led by Jerome Powell.

You can adjust AI Impact to explore different effects on productivity, employment and markets. Heavy QE can inflate an AI equity bubble and worsen a later correction; outcomes depend on your settings and policy choices.

Create economic crises

Custom Mode lets you build a scenario around stagflation, deflation or a market crash, then add a wildcard such as war, an energy shock or an automation boom. You can enable Prestige Mode for tougher scoring and less room for error.

In historical chair scenarios, you earn a grade from A to F and compare your performance with historical benchmarks. Achievements give you goals to unlock as you revisit your decisions and try for a better outcome.