Why was the federal reserve created in 1913

Question

History

Coal

12 September, 01:40

Why was the federal reserve created in 1913

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Answers (2)

Know the Answer?

Oren · Answer 1

The federal reserve was created to provide the nation with a safer, more flexible, and more stable monetary and financial system.

Kaylin West · Answer 2

To provide a more stable and reliable Monetary and Financial system

Explanation:

The federal reserve bank was crested after president Woodrow Wilson passed the federal reserve act into law. the federal reserve bank was created on December 23 1913 to provide a more reliable, stable and flexible monetary and Financial system for the Financial sector.

The Federal reserve bank is seen as the central bank of the nation and it is also known as the Bankers bank. The Federal reserve bank still exists till date and they are saddled with making some key financial decisions like setting interest rates.