Wilson signs the Federal Reserve Act
Citations (1)
- All the Presidents' Bankers: The Hidden Alliances That Drive American Power whole source · open book
After six more months of haggling over minor details, Wilson signed the Federal Reserve Act into law on December 23, 1913, establishing the twelve-bank Federal Reserve System and its powerful Wall Street–centric arm, the New York Fed (the part that complied with the bankers’ demands).
chapter: Chapter 1: The Early 1910s: Post-Panic Creature and Party Posturing