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The Fed came into its own in the two decades following the signing of the Federal Reserve Act in 1913
After the Federal Reserve Act was signed in 1913, the Federal Reserve came into its own in the two decades that followed.

The Fed’s success led to this legislation in 1927, which rechartered the Federal Reserve Banks in perpetuity among other items
McFadden Act

The Fed’s success led to this legislation in 1927, which rechartered the Federal Reserve Banks in perpetuity among other items

The Treasury and the Fed worked together to finance World War I
Liberty Bonds

The Treasury and the Fed worked together to finance World War I

The twelve Federal Reserve Banks opened for business in November 1914
Reserve Banks Open

The twelve Federal Reserve Banks opened for business in November 1914

World War I was the first test of the nation's new central bank
Fed’s Role During WWI

World War I was the first test of the nation's new central bank

The RBOC announced the location and district boundaries of the Reserve Banks in April 1914
Reserve Bank Organization Committee

The RBOC announced the location and district boundaries of the Reserve Banks in April 1914

The Federal Reserve Act became law in December 1913, culminating three years of debate
Federal Reserve Act Signed

The Federal Reserve Act became law in December 1913, culminating three years of debate