The Federal Reserve System was created by the
A) National Banking Act of 1864.
B) Federal Reserve Act of 1913.
C) Glass-Steagall Act of 1933.
D) Banking Act of 1935.

Question

Quizplus · Accepted Answer

The Federal Reserve System was created by the Federal Reserve Act of 1913, which established the central banking system in the United States. The National Banking Act of 1864 created a system of nationally chartered banks, but it did not establish the Federal Reserve. The Glass-Steagall Act of 1933 and the Banking Act of 1935 introduced important reforms to the banking system but did not create the Federal Reserve.

The Federal Reserve System Was Created by the