Several monetary institutions appeared in the United States prior to the formation of the Federal Reserve System, or Fed. These were, in order: the constitutional gold (and bimetallic) standard, the First and Second Banks of the United States, the Independent Treasury, the National Banking System, clearinghouse associations, and the National Reserve Association. The Fed was the last such institution founded. Although it has endured, the present-day Fed would be unrecognizable to its founders.
Federal Reserve
What is the Federal Reserve System?
The Federal Reserve System, often referred to as the Federal Reserve or simply “the Fed,” is the central bank of the United States. It was created by Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role has evolved and expanded.
When was the Federal Reserve created?
The Federal Reserve was created on December 23, 1913, with the signing of the Federal Reserve Act by President Woodrow Wilson. The act had been drafted as House Resolution 7837 by Representative Carter Glass (D-VA), incoming chairman of the House Banking and Currency Committee.
Top 10 Historic Midterm Elections
While not as memorable or studied as much as presidential campaigns, the midterm elections also stand as pivotal moments in U.S. history. Congressional elections, usually held in the middle of a president’s term, are usually a referenda on a president and his policies.
Obama & Co.: Never Met A Tax They Didn’t Love
Director David Zucker of “Airplane” fame and most recently “Call Me Senator” addresses our timeless little problem with the Federal Government and its thing about bleeding American citizens dry.
Federalism and the New Conservatism: Reagan2020.us-Clear Vision for the 21st Century
“We, the members of the New Republican Party, believe that the preservation and enhancement of the values that strengthen and protect individual freedom, family life, communities and neighborhoods and the liberty of our beloved nation should be at the heart of any legislative or political program presented to the American people.” —Ronald Wilson Reagan (1911 – 2004)
Owning Your Own Healthcare Plan
As a Certified Nurse-Midwife with 35 years experience in the American health care system, I have a very different perspective than do politicians on what is needed for effective health care reform. The new reform bill is, at best, misguided. The usual suspects, doctors and the costs generated by the amazing advances of the last several decades, have not made health care and health insurance unaffordable and restrictive for many Americans. Government regulation has.
Health 101: How We Lowered Our Costs
I just got my health insurance renewal premium for 2011, and our family’s cost went down 19 percent. Yes, down! — and all because we did the opposite of ObamaCare for our family.
Now I am not an Ivy League grad; nonetheless, I figured out how to dramatically lower my health care costs two years in a row. And by costs, I mean both insurance premiums and overall expenditures for health care — without sacrificing anything.
‘Go watch this video. It’s enlightening, it’s enraging.”: Gov Christie Raves Over O’Keefe’s ‘Teachers Gone Wild’
Well, the left and the mainstream media came to bury James O’Keefe. And I guess they failed. His latest Project Veritas ‘Teachers Gone Wild’ — New Jersey teachers union members exposing their institutional arrogance and lack of seriousness and accountability — is now a huge story in New Jersey politics, according to straight-talking Governor Chris Christie’s own mouth.