Asked by Tiffany McClendon on Jun 10, 2024
Verified
The United States did not have a central bank until
A) 1900.
B) 1913.
C) 1929.
D) 1946.
E) 1973.
Central Bank
An institution that manages a state's currency, money supply, and interest rates.
- Recognize the historical development of the Federal Reserve and its significance in the US banking system.
Verified Answer
JO
James OttomanelliJun 14, 2024
Final Answer :
B
Explanation :
The Federal Reserve Act was passed in 1913, which established the Federal Reserve System as the central bank of the United States. Prior to this, the United States had several attempts at creating a central bank, but they were either short-lived or struck down by the courts.
Learning Objectives
- Recognize the historical development of the Federal Reserve and its significance in the US banking system.