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Federal Reserve Act

Overview#

Federal Reserve Act of 1913 is an Act of Congress codified in 12 U.S.C. Chapter 3 - FEDERAL RESERVE SYSTEM[1]) 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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