The Federal Reserve System was established in 1913 in response to the
A) First World War.
B) bank panic of 1907.
C) depression of 1883.
D) prosperity of the 1920s.

Question

Quizplus · Accepted Answer

The Federal Reserve System was established in 1913 in response to the bank panic of 1907, which highlighted the need for a more stable banking system and monetary policy. The First World War did not begin until 1914, and the other options (depression of 1883 and prosperity of the 1920s) are not historically accurate.

The Federal Reserve System Was Established in 1913 in Response