Federal Reserve Act of 1913

Definition

Landmark legislation that created the central banking system (the Federal Reserve) and thereby laid the foundation of the modern U.S. financial system. Enacted by President Woodrow Wilson with a view to reform banking and the currency system, its objectives included prevention of financial panics with the ready availability of cash from a money reserve, an expanding-contracting money supply to match the state of the economy, and a new currency - the federal reserve note. In its present state it includes nearly 200 amendments.

Use this term in a sentence

You should study up on the federal reserve act of 1913 and see if there is any way of using it in your favor.

​ Was this Helpful? YES  NO 10 people found this helpful.

The Federal Reserve Act of 1913 was called upon to ease the worries of consumers when the U.S. experienced a dramatic nosedive in its economic situation.

​ Was this Helpful? YES  NO 3 people found this helpful.

The Libertatian candidate for President of the United States proposed making the biggest changes to our banking system since the Federal Reserve act of 1913.

​ Was this Helpful? YES  NO 6 people found this helpful.

Show more usage examples...

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
federal register Federal Reserve Bank