The designers of the Federal Reserve Act meant to create a central bank characterized by its

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The designers of the Federal Reserve Act intended to create a central bank that had a system of checks and balances and decentralized power. This can be seen in the structure of the Federal Reserve System, which includes regional banks that have some autonomy in decision-making, as well as a Board of Governors in Washington, D.C. that oversees the system as a whole. Additionally, the Federal Reserve's ability to act as a lender of last resort is a key aspect of its function as intended by the Act. The designers did not intend for the Federal Reserve to have a strong concentration of power in the hands of a few people, nor did they intend for it to be responsive to the electorate.

The Designers of the Federal Reserve Act Meant to Create