The Federal Reserve System was created by an act of Congress in 1933 in an effort to end a wave of bank failures brought on the Great Depression.

Name: The Federal Reserve System was created by an act of Congress in 1933 in an effort to end a wave of bank failures brought on the Great Depression.
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The Federal Reserve System was actually created by an act of Congress in 1913. However, it did play a role in trying to stabilize the banking system during the Great Depression.

The Federal Reserve System Was Created by an Act of Congress