The Federal Reserve Bank of Cleveland is using videos of LEGO minifigures to explain concepts to do with inflation to their customers.
The bank, also known as Cleveland Fed, has put together a series of clips, available on their website, to explain basic concepts of inflation. Each one offers an overview, with more detail and technical specifications available below.
The three videos cover ‘What Is Inflation?’, ‘Why Should You Care about Inflation?’, and ‘Why Does the Fed Care about Inflation?’ and are between 60 and 90 seconds long. LEGO minifigures stroll through brick-built city scenes, confused about why their products increase in price. A helpful voiceover explains what inflation is and why this affects the prices of everyday items.
As inflation worsens, the LEGO people scream, run around, and panic in the face of hyperinflation. It’s an amusing take on a serious financial issue, designed to encourage Cleveland Fed’s customers to understand the economic landscape better. They combine light-hearted videos with financial language to better highlight often complex terms.
You can browse through the videos for yourself here – and perhaps learn a thing or two about economics!