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Important information about Federal Reserve and Inflation

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Read the 2 articles Fed Official Expects Growth and are Inflation Expectations Rising from the Ashes?

The cites are: http://pittsburghlive.com/xtribunereview/business/s 385893.html
http://research.stlouisfed.org/publications/mt/20051101/cover.pdf

Questions:
1) What exactly is the Federal Reserve?
2) Do the effects of natural disasters, such as hurricanes, cause inflation or deflation?
3) Who is in charge of the Fed?
4) Do voters have a say in the implementation of monetary policy?
5) How is inflation measured?
7) Why is inflation so widely feared?
8) How might a high school student's experience with inflation differ from an employed urban adult?

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Questions on articles related to inflation expectations

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Several of these questions can be found on the federal reserve web site, http://www.federalreserve.gov/

The articles mention the effects of hurricanes. We can surmise from the comments given that inflation is often linked to disasters. In the case of hurricane Katrina, it was the increased cost of energy that fueled inflation. When oil prices rise, many other sectors are affected. For example, the trucks that transport our food use gasoline. The supply of gasoline was restricted for a time because of hurricane damage to US golf coast refineries.

There is some debate about the fourth question. Because the President appoints the 7 members of Board of Governors, and the Chairman of the Fed, and the Senate confirms them, you might say that ...

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