Respuesta :
In order to give the country a more secure, adaptable, and stable monetary and financial system, the Federal Reserve Act of 1913 established the Federal Reserve System as the country's central bank. The law describes several aspects of the System's operations and responsibilities in addition to outlining the System's goals, structure, and functions.
What led to the creation of the Federal Reserve?
Bank runs caused by a particularly bad crisis in 1907 wreaked havoc on the frail banking system and eventually prompted Congress to draft the Federal Reserve Act in 1913.
In order to deal with these banking panics, the Federal Reserve System was initially established. The Central Bank, which would be in charge of monetary policy, was introduced by the Act with the intention of establishing some degree of economic stability in the United States.
To learn more about the Federal Reserve Act, visit:
https://brainly.com/question/11860766
#SPJ4
