This website serves as a gateway to the history of the Federal Reserve for educators, students, and the general public. The site's purpose is to help demystify the Fed and its role in the economy and to explain how the Fed and its mission have evolved.

The Federal Reserve System is the central bank of the United States. Founded by an act of Congress in 1913, the Federal Reserve’s primary purpose was to enhance the stability of the American banking system.

The Federal Reserve System is the central bank of the United States. Founded by an act of Congress in 1913, the Federal Reserve’s primary purpose was to enhance the stability of the American banking system.

Aug 5, 2024 · When the Federal Reserve was established in 1913, monetary policy as we know it today did not yet exist. The intellectual basis for it would continue to be formed over the next few decades. 1 Moreover, not until the 1951 Accord did the Federal Reserve regain the ability to make decisions independent of the Treasury.

The Federal Reserve Historian plays a critical role in preserving the history of the U.S. central bank and its policy actions, while helping to ensure that history is accessible to educators, students, researchers, and the general public.

This website provides information about individuals who played important roles in Federal Reserve history, some of whom embraced, advocated, or advanced public policies that are wholly inconsistent with our values.

Though Congress specifies the goals for monetary policy, it established the Federal Reserve as an independent agency to ensure that its decisions are based on facts and objective analysis and serve the best interests of all Americans.

Susan S. Bies was sworn in as a member of the Board of Governors of the Federal Reserve System on December 7, 2001. She resigned from the post on March 30, 2007. Bies was born in Buffalo, New York. She earned a bachelor’s degree in education from the State College of New York at Buffalo in 1967.

Aug 28, 2023 · The Federal Reserve Leased Wire System in 1953, from the Federal Reserve Bank of Richmond 1953 Annual Report Published August 28, 2023 Since 1915, the Federal Reserve has operated a wire payment system, known today as Fedwire.

After the Federal Reserve Act was signed in 1913, the Federal Reserve came into its own in the two decades that followed.