Quick Insights

After muddling along without a central bank for nearly 80 years, it took only 98 days for a committee commissioned by Congress to identify cities where Regional Federal Reserve Banks would be located and draw the respective District boundaries. The Federal Reserve System was up and running within a year of the signing of the Federal Reserve Act of 1913. Read More
May 23, 2019
After the 1907 panic ignited by Knickerbocker Trust's failure, Congress created the National Monetary Commission to reform the banking industry. Its leader formed a clandestine club that largely shaped the Federal Reserve Act. Read More
May 16, 2019
The U.S. central banking system was borne out of a 1907 panic involving a copper mining fortune. This is the first in a series of articles exploring the history. Read More
April 04, 2019