Federal Reserve System



Federal Reserve System

Introduction

This essay is intended to give an in depth knowledge on the Federal Reserve System and how it works at reducing the recession from the economy. The Federal Reserve System was formed on 23rd December 1913 by the Congress in order to serve the whole nation with a more flexible, safer and highly stable financial and monetary system. The Federal Reserve act was signed by the President Woodrow Wilson into law. It is the central banking system of US. The fed directs the economy of the United States through increasing and lowering the short-term interest rates and ...