dec 23, 1914 - Federal Reserve Act

Description:

he Federal Reserve Act was enacted on December 23, 1913, establishing the Federal Reserve System as the central bank of the United States to provide the country with a safer, more flexible, and more stable monetary and financial system. The Act organized a network of twelve regional Federal Reserve banks governed by the Federal Reserve Board, designed to serve as a lender of last resort and to handle the issuance of the national currency, adjust interest rates, and control inflation.

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