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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.

The deep, protracted downturn in 2007-09 was followed by an unusually slow recovery
The Great Recession and After

The deep, protracted downturn in 2007-09 was followed by an unusually slow recovery

This period of relative macroeconomic stability lasted from the mid-1980s to 2007
The Great Moderation

This period of relative macroeconomic stability lasted from the mid-1980s to 2007

The defining macroeconomic period of the second half of the 20th century lasted from 1965 to 1982
The Great Inflation

The defining macroeconomic period of the second half of the 20th century lasted from 1965 to 1982

The Fed used its newly gained independence to create a new kind of monetary regime
After the Accord

The Fed used its newly gained independence to create a new kind of monetary regime

The Fed pegged interest rates at a low level during WWII and enforced the peg after the war ended
WWII and After

The Fed pegged interest rates at a low level during WWII and enforced the peg after the war ended

The worst downturn in U.S. history lasted from 1929 to 1941
The Great Depression

The worst downturn in U.S. history lasted from 1929 to 1941

The Fed came into its own in the two decades following the signing of the Federal Reserve Act in 1913
The Fed's Formative Years

The Fed came into its own in the two decades following the signing of the Federal Reserve Act in 1913

U.S. monetary and banking policy before the creation of the Fed
Before the Fed

U.S. monetary and banking policy before the creation of the Fed