Answer:
In order to provide security for bank customers and oversight of U.S. banks, Wilson supported the creation of the Federal Reserve.
Explanation:
One of the important reforms of Woodrow Wilson was the law on the creation of the Federal Reserve, which he signed on December 23, 1913. This law made an institutional revolution: 12 banks formed the Federal Reserve System in November 1914 and began to expand the volume of credit resources of America.
Wilson supports the creation of a Federal Reserve System to provide security for bank customers and bank supervision in the United States.
The fed is a United States central bank consisting of 3 main entities namely the Board of Governors. 12 regional central banks called the Federal Reserve Banks and the Federal Open Market Committee. One of the Fed's main entities, namely 12 Federal Reserve Banks is owned by private banks
The Federal Reserve System is a system that is present in the United States public whose duty is to regulate interest rates and availability of bank credit, set state monetary policies, oversee and regulate financial institutions, and provide financial services for the United States government depository institutions and also official institutions foreign.
Before this system was born there was unrest in the United States, the financial crisis that occurred since 1907 prompted a group of people to hold secret meetings and discussions. The meeting discussed plans to reform the country's banking system. This is understandable because of the financial crisis that occurred hurt economic activity at that time. Not in vain, the plans discussed eventually became the basis for the Federal reserve system.
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Details
Class: Middle School
Subject: History
Keywords: Federal Reserve System, Willson and Banks in the United States.
