External reading
About this resource
- Publisher
- Federal Reserve History
- Use
- Historical context for enactment and the decentralized central-bank design.
- Version
- Current historical essay
- Relevant parts
- Federal Reserve Act Signed into Law; December 23, 1913
- Link checked
- Aug 7, 2026
This essay supports the chronology between the Panic of 1907, monetary reform, and enactment on December 23, 1913. It also keeps the design question visible: Congress created a system with a central governing board and regional Reserve Banks, not a single monolithic bank copied from one predecessor.