Sunday, June 24, 2012
The Legal Consequences of the Federal Reserve Act and Monetary Policy in America
The effect of the Federal Reserve Act of 1913 on the policies of the American people have been widespread. Monetary policy in America has been shaped more by this one piece of legislation more so than any other piece of legislation in America. The Federal Reserve Act created the institution known as the Federal Reserve. This piece of legislation has steered the American economy for over one hundred years. The law was passed in secret on Christmas Eve in 1913 while Congress was away on recess.
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