By: Chloe Rogahn
What is the History of the Fed?
Early 1800s- The congress established the first bank
Mid 1800s- Congress charted the second bank
Late 1800s- National Banking Act passed, but later fell into a depression
Early 1900s- President Wilson signed the Federal Reserve Act of 1913 which established the Fed
Mid 1900s- The stock market crashed in 1929 and the nation fell into the Great Depression
Who or what are the Board of Governors?
What is a Monetary Policy?
What is inflation, recession and depression?
Inflation- It is normal unless "severe" which is when prices are rising quickly and people are spending to much money.
Recession- Is bad because the economy is slow and a high rate of unemployment.
Depression- Is really bad because it becomes a long-term situation. Leaving the unemployment rate raising higher then before.