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 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.