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The Money Museum traces the history of the Federal Reserve Bank and also displays currency used in the past. The bank's Charles L. Evans Money Museum [ 11 ] is free and open to the public year-round from 8:30am to 5pm, Monday through Friday, except on Bank holidays. [ 12 ]
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States.It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises.
A History of the Federal Reserve – Volume 2, Book 1: 1951–1969. Chicago: University of Chicago Press. ISBN 978-0226520025. Meltzer, Allan H. (2009). A History of the Federal Reserve – Volume 2, Book 2: 1970–1986. Chicago: University of Chicago Press. ISBN 978-0226213514. Rothbard, Murray N. (2002).
Federal Reserve Bank of Chicago. ... The History and Future of the Federal Reserve’s 2 Percent Target Rate of Inflation, Council on Foreign Relations. Accessed April 29, 2024.
Federal Reserve Board, 1917. The Federal Reserve System is the third central banking system in United States history. The First Bank of the United States (1791–1811) and the Second Bank of the United States (1817–1836) each had a 20-year charter.
The Federal Reserve Bank of Chicago president said the Fed's goal is to "stick on the golden path" and get inflation down without causing a recession.
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A History of the Federal Reserve (2 vol. U of Chicago Press, 2010). Murphy, Sharon Ann. Other People's Money: How Banking Worked in the Early American Republic (2017) online review; Pak, Susie J. Gentlemen Bankers. The World of J.P. Morgan (2013) 1880s-1910