Question

Why was the Federal Reserve created in 1913?

Answer 1

It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Federal Reserve was created on December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law.

Answer 2

Answer:

Answer is option B.

Congress developed the Federal Reserve Act to establish economic stability in the United States by introducing a central bank to oversee monetary policy. ... The 1913 Federal Reserve Act, signed into law by President Woodrow Wilson, gave the 12 Federal Reserve banks the ability to print money to ensure economic stability.