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Lostsunrise [7]
4 years ago
6

What law was passed by Congress to prevent financial panic's?

History
2 answers:
bija089 [108]4 years ago
4 0

The correct answer is "The Federal Reserve Act."

<em>The law that was passed by Congress to prevent financial panics was The Federal Reserve Act.</em>

On December 23, 1913, President Woodrow Wilson signed into law the Federal Reserve Act.

After people live fearful moments during the so-called Panic of 1907, where the New York stock market suddenly fell and scared bankers, the US government recognized the necessity of having a Central Bank. So President Wilson authorized the creation of the Central Banking System and the Fd¿ederal Reserve System.

kherson [118]4 years ago
3 0
The federal reserve act
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