One of the most important squid-spawning areas in Monterey Bay is a wide, flat, sandy area directly offshore of Monterey's Fisherman's Wharf. This area is a convenient fishing spot for the Monterey fishing fleet and a convenient feeding spot for the large packs of sea lions that hang out on Monterey Breakwater in May.
President Woodrow Wilson signed the Federal Reserve Act on December 23, 1913. The Act established the Federal Reserve System to oversee the nationâs money supply and provide an âelasticâ currency that could expand and contract in response to the economyâs changing demand for money and credit.Congress also empowered Federal Reserve Banks to issue Federal Reserve notes.he Act established the Federal Reserve System to oversee the nationâs money supply and provide an âelasticâ currency that could expand and contract in response to the economyâs changing demand for money and credit.
The Structure of the Federal Reserve System. The Federal Reserve System was created by the Federal Reserve Act in 1913 and began operating in 1914. The Fed is an unusual mixture of public and private elements. Test your knowledge about Federal Reserve structure through this quiz or word search.Additional quizzes and word searches are also available.he chairman reports twice a year to Congress on the Fed's monetary policy objectives, testifies on numerous other issues, and meets periodically with the Secretary of the Treasury. The Board funds its operations by assessing the Federal Reserve Banks rather than through Congressional appropriation.