Logo: 100 Years, Federal Reserve System
 

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1965: Great Inflation

The Great Inflation period is 1965 through 1982.
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1971: Gold Convertibility Ends

With inflation on the rise and a gold run looming, Nixon's team coordinated a plan for bold action.
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1971: Smithsonian Agreement

In December 1971, monetary authorities from the world’s leading developed countries met at the Smithsonian Institution in Washington, D.C.
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1973: Oil Shock of 1973–74

From the vantage point of policymakers in the Federal Reserve, the 1973-74 oil crisis served to further complicate the macroeconomic environment, particularly in regard to inflation.
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1977: Fed Reform Act of 1977

The Federal Reserve Reform Act of 1977 was instrumental in shaping the current Federal Reserve System.
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1978: Humphrey Hawkins Act

The Full Employment and Balanced Growth Act of 1978, commonly called Humprey-Hawkins, was passed in October 1978.
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1978: Oil Shock of 1978–79

Like its 1973–74 predecessor, the second oil shock of the 1970s was associated with events in the Middle East.
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1979: Anti-Inflation Actions

Oct. 6, 1979: Fed Chairman Volcker announced new measures by the FOMC aimed at reining in the rampant inflation that affected the US economy for several years.
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1980: Savings & Loan Crisis

In the 1980s the financial sector suffered through a period of distress that was focused on the nation's savings and loan (S&L) industry.
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1980: Monetary Control Act of 1980

One of the most important pieces of legislation to affect the Federal Reserve in its hundred-year history is known formally as the Depository Institutions Deregulation and Monetary Control Act.
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1981: Recession of 1981–82

The 1981–82 recession was triggered by tight monetary policy in an effort to fight mounting inflation.
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1982: Garn-St Germain Act

During the 1970s the US economy was plagued by high inflation.
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