Assorted References. 1  American Civil War (in Remembering the American Civil War: The poetry and songs of the Civil War) 2  imagergy (in poetic imagery) 3  importance to literature (in literature: The scope of literature) 4  translation difficulties (in language: Translation)
It was created on December 23, 1913, with the enactment of the Federal Reserve Act in response to a series of financial panics (particularly the panic of 1907) that showed the need for central control of the monetary system if crises are to be avoided.
The United States Congress enacted the Federal Reserve Act of 1913. The Federal Reserve Act created the Federal Reserve System (the Fed). The Fed serves as the central bank of the United States.The Act created a banking system consisting of both private and public organizations. It established 12 regional Federal Reserve Banks.he Federal Reserve Act was enacted in response to a series of financial crises. The intent of the Act was to create a degree of financial stability. The Act empowers the Fed to regulate and supervise banks and to develop and implement monetary policy.