The worst economic crisis in American history spurred the creation of the modern central banking system ... for the Federal Reserve’s actions during the Great Depression, placing much of ...

President Woodrow Wilson signed the Owen-Glass Act, creating the Federal Reserve System, an independent agency of the U.S. Government. Before Federal Reserve began its operation in November 1914, ...

The Great Recession from 2007-09 saw GDP fall 4.3%, the biggest drop since the Great Depression ... system didn't collapse. In an effort to stimulate the economy, the U.S. Federal Reserve lowered ...