Creation of the Federal Reserve (1913): The U.S. had more than 8,000 different currencies in the 1800s, making economic synchronization difficult. The FED was established to create a centralized currency system to stabilize and regulate the economy.
The Great Depression (1929): The rapid economic growth in the 1920s, driven by factors like war, pandemic, and excessive money printing, eventually led to a massive crash (the Great Depression). The crash prompted significant changes to the financial system.
Creation of the Federal Reserve (1913): The U.S. had more than 8,000 different currencies in the 1800s, making economic synchronization difficult. The FED was established to create a centralized currency system to stabilize and regulate the economy.
The Great Depression (1929): The rapid economic growth in the 1920s, driven by factors like war, pandemic, and excessive money printing, eventually led to a massive crash (the Great Depression). The crash prompted significant changes to the financial system.