The Federal Reserve System resulted from a compromise between those who wanted a massive central bank and those who wanted no central bank.

Question

Quizplus · Accepted Answer

The creation of the Federal Reserve System in 1913 was a compromise between those who wanted a powerful, centralized banking system and those who wanted to maintain a decentralized banking system. The Federal Reserve Act established a central banking system that was designed to balance the competing interests of both sides. Therefore, the statement is true.

The Federal Reserve System Resulted from a Compromise Between Those