History of the United States II / Unit 6 USH2 0788 short lesson, about 20 seconds
The Federal Reserve
Captions available
The idea
The Federal Reserve Act of nineteen thirteen created twelve privately owned regional reserve banks under a board appointed by the president.
In practice
Twelve regional banks answering to one national board.
Where people slip
The farmers of unit five had demanded federal action on the currency; the federal government now took a permanent role in it.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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