The main purpose of the Federal Reserve, which was established in 1913, was to put an end to the bank crises that occurred during the national banking era.

Question

Quizplus · Accepted Answer

The main purpose of the Federal Reserve was indeed to create a more stable banking system and prevent bank crises. This was achieved through the centralization of banking functions and the establishment of a lender of last resort that could provide liquidity to banks in times of crisis.

The Main Purpose of the Federal Reserve, Which Was Established