History of the Federal Reserve

By cmadd08

  • Federal Reserve Act was created

    Woodrow Wilson signed the act to establish 8-12 district and reserve banks. The act also created the Federal Reserve Board.

  • Reserve Districts are established by the Federal Reserve Board

  • FED Banks officially open

  • FED helps finance WWI

  • Great Stock Market Crash of 1929

    Onset of the Great Depression. Panic within banking industry.

  • FDR passes Glass-Steagall Act, and creates the Federal Deposit Insurance Corp.

  • Banking Act of 1935 establishes the FOMC

  • Korean War erupts. FED struggles to keep low interest rates.

  • Treasury and FED agreement sets modern regulation for Federal Reserve

  • Bank Holding Company Act under Eisenhower

  • 1971- Smithsonian Agreement

  • Federal Reform Act of 1977

  • Humphrey Hawkins Act

  • Garn-St Germain Act lowers inflation

  • FED is able to lend to banks through interest rates

  • FED provides programs to deal with recession

  • FED bails out Bear Stearns

  • Dodd-Frank Act

  • FED announces QE3