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date: 08 April 2020

Federal Reserve Act 

Source:
The Oxford Companion to United States History
Author(s):
Wyatt C. WellsWyatt C. Wells

(1913).The Federal Reserve Act had its origins in the Panic of 1907, when the collapse of several loosely managed trust companies sparked a general financial crisis. Depositors frightened by the collapse of trust companies withdrew money from banks, which then called in loans and dumped securities on the market, contributing to a serious recession. Financier J.P. ... ...

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