The Federal Reserve Act was designed to prevent financial crisis.
<u>Explanation:</u>
Woodrow Wilson, who is known to be the 28th president of United States have passed an act on December 23rd in the year 1913. This act is widely known as the Federal Reserve act.
This act was mainly passed to support the people of American financially by helping them establish a central banking system which they lagged. They included process like providing loan etc. It was also mainly passed to prevent financial crisis so that the people can establish a strong financial basement.
Black codes were restrictive laws designed to limit the freedom of African Americans and ensure their availability as a cheap labor force after slavery was abolished during the Civil War
