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1913 December 23 Federal Reserve Act Signed into Law

1913 December 23 Federal Reserve Act Signed into Law

Who: Federal Reserve & US Government

What: Federal Reserve is granted control of the issuance and regulation of US currency.

Where: United States of America

Why: Provide a ready reserve of liquid assets in case of financial panics and would also provide for a currency that could expand and contract as the seasonal U.S. economy dictated.

Where: USA

Player: JP Morgan, co-founder of the Federal Reserve

Player: JD Rockefellar, co-founder of the Federal Reserve

Player: President Woodrow Wilson

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