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23/12/1913 Woodrow Wilson signs creation of the Federal Reserve System

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Federal Reserve Explained In 7 Minutes

3:14

History Brief: The Federal Income Tax and the Federal Reserve

President Woodrow Wilson signed an Act, which created and established the central banking system of the U.S. and authority to issue U.S. dollars. The Act was a part of the banking and currency reform plan advocated by Wilson in 1912.
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    • Essentials 

    • The Act 

    • Background 

    • Legislative history 

    • Amendments 

    • Impact 

    • Criticisms