In 1913,Congress and the president did not envision that the Fed would control

Question

Quizplus · Accepted Answer

The Federal Reserve Act of 1913 gave the Fed the authority to act as a lender of last resort, issue Federal Reserve notes, and regulate the banking system. However, the act did not explicitly give the Fed broad control over most aspects of money and the banking system. This level of control has evolved over time through subsequent legislation, judicial rulings, and the Fed's own actions.

In 1913,Congress and the President Did Not Envision That the Fed