Answer:
Congress passed the Federal Reserve Act in 1913, when the US had functioned without a central bank since 1836 because it wanted to end the numerous financial crises faced by the nation since its founding.
Primarily, the Federal Reserve Act of 1913 created the central bank of the United States. Its purposes included the printing of currency, control of money supply, maximization of employment, and the minimization of inflation.
Explanation:
The nation needed to enjoy economic stability by having a central bank that executes the monetary policies of the Federal government. The Federal Reserve Act provided the United States government with a safer, more stable, and more flexible monetary and financial system. Since its establishment, it has worked to ensure the enthronement of an efficient national payments system, flexible money supply, and effective lending/borrowing mechanism to ease liquidity crises for the facilitation of investments and industrialization of the nation.
Hi there
I would say because of the ancient Greeks and Romans have been an important part of the
education of the elites which made them well acquainted with their
history, literature and art.
I hope that's help !
The bicycle craze that had taken over Europe in the 19th century contributed to the rise of the automobile.Several components that eventually played a key role in the development
of the automobile were initially invented for use in the bicycle. these were ball bearings, pneumatic tires, chain-driven sprockets and tension-spoked wheel.
