The Federal Reserve Act of 1913 guaranteed a substantial measure of public control over the American banking and currency system through the great authority given to

Question

Quizplus · Accepted Answer

The Federal Reserve Act of 1913 created the Federal Reserve System, which established a central banking system in the United States. The act granted power and authority to manage monetary policy and regulate the banking system to the Federal Reserve Board, which is appointed by the president of the United States. This ensured a substantial measure of public control over the American banking and currency system through the Board's authority.

The Federal Reserve Act of 1913 Guaranteed a Substantial Measure