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Federal Reserve System |
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The Federal Reserve system consists of a series of Federal Reserve banks, located in major cities across the country, which is responsible for maintaining the value of American currency and controlling bank credit. It was established in 1913.
Thomas Law
The Panic of 1907 prompted the federal government to implement the Federal Reserve System. The Ohio state government also responded, implementing the Thomas Law. The Ohio governor signed into law the Thomas Law on May 5, 1908. This legislation ...
http://www.ohiohistorycentral.org/entry.php?rec=1426
Milton Friedman, Ph.D. Profile -- Academy of Achievement
... steady control of the money supply through a country's central bank, such as the Federal Reserve system in the United States, was the best instrument for stabilizing a currency, avoiding inflation and allowing the free market to go about its ...
http://www.achievement.org/autodoc/page/fri0pro-1
U.S. Treasury - Biography of Secretary David M. Kennedy
... banking, beginning with service on the staff of the Board of Governors of the Federal Reserve System in 1930, remaining until 1946 and rising through increasingly responsible positions culminating in his assignment as assistant to the ...
http://www.ustreas.gov/education/history/secretaries/dmkennedy.shtml