The Federal Reserve was created in 1913 following the 1907 panic to institutionalize the emergency lending function that J.P. Morgan had performed manually, giving it the power to create new cash on demand and provide liquidity to the financial system.
factualpending
Speaker
Jay MartinEvidence Quote
“Three years after that meeting, on December 23rd, 1913, President Woodrow Wilson signed the Federal Reserve Act into law. A new institution that had the power to do, on demand, what Morgan had done by hand.”
Created: 8/12/2026, 6:41:57 PM
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