The failure of Ohio Life Insurance and Trust in 1857 did not signal the start of a recession due to prompt actions by the Fed.

Name: The failure of Ohio Life Insurance and Trust in 1857 did not signal the start of a recession due to prompt actions by the Fed.
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The Federal Reserve did not exist until 1913, so it could not have taken any actions in response to the failure of Ohio Life Insurance and Trust in 1857. Therefore, the failure did contribute to the start of a recession.

The Failure of Ohio Life Insurance and Trust in 1857