Question

The Federal Reserve act of 1913 established the federal reserve system what was the purpose of setting up the Federal Reserve system

Answer 1

The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.

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Answer 2

Answer:

The Federal reserve Act was signed by president Woodrow Wilson and it created the Federal reserve on December 23, 1913. It is the central bank of USA , it was created created for providing the nation with a safer and stable monetary an financial system.  The four responsibilities of Federal reserve are: Conducting the monetary policy, Regulating and supervising banks and other financial institutions to secure the banking and financial system. Maintain a stable financial system to mitigate the risks of the financial markets, and providing the financial services to the US government, financial institutions and overseeing the nation's payment systems.