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Federal Reserve Act

Overview#

Federal Reserve Act was enacted December 23, 1913, 12 U.S.C. Chapter 3 - FEDERAL RESERVE SYSTEM[1]) is an Act of United States Congress that created and established the Federal Reserve System (the Central Banking System of the United States), and which created the authority to issue Federal Reserve Notes (commonly known as the US Dollar) as legal tender. The Act was signed into law by President Woodrow Wilson.

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