The Federal Reserve works to promote a safe, efficient, and accessible system for U.S. dollar transactions.
Automated Clearing House Payments
The Federal Reserve began operating an electronic payment Automated Clearing House system in the 1970s to provide a substitute for paper checks.
Gold Convertibility Ends
President Nixon's 1971 economic plan, sometimes referred to as "Nixonomics," ended gold convertibility and imposed wage and price controls
Gold Reserve Act
The 1934 law was the culmination of FDR’s controversial gold program
Roosevelt’s Gold Program
The controversial and consequential policies of FDR regarding gold and dollars
Fedwire
Since 1915, the Federal Reserve has operated a wire payment system, known today as Fedwire.
Check Payments
Congress charged the Federal Reserve with using the nationwide scope of its operations to improve the check payments system
Federal Reserve Act Signed
The Federal Reserve Act became law in December 1913, culminating three years of debate
