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Sladkaya [172]
3 years ago
13

Would the federal reserve

History
1 answer:
Masteriza [31]3 years ago
8 0

Answer:

If the US did not have a federal reserve or any central bank, the banking system wouldn't be supervised and money would be lent to wrong people. Borrowing could go out of hand as there wouldn't be a monetary policy which increases or decreases interest rates to control borrowing.

Explanation:

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Woodrow Wilson claimed his place within the Progressive movement with his economic reform package, "the New Freedom." This agenda, which passed congress at the end of 1913, included tariff, banking, and labor reforms and introduced the income tax. Wilson also expanded the executive branch with the creation of the Federal Reserve, the Federal Trade Commission, and the Internal Revenue Service. His emphasis on efficiency and bureaucracy fit him squarely within the Progressive movement.
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