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Explore the reasons and impact of the Federal Reserve's founding in 1913. Learn about the need for stability and its independence from Congress. Discover how the 1907 financial crashes influenced its creation.
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Motivations for a Federal Reserve Matt Shuman Tuesday 12-3, April 15th
Monopoly • Initially “The Landlord’s Game” • Conceived in 1906 • Showcases negative aspects of concentrating property into monopolies http://en.wikipedia.org/wiki/Monopoly_(game) www.halloffamememorabilia.com
1907 Panic • Easter in Bend • Carnegie • J.P. Morgan • Rockefeller • Elisha and the bears • 1907 Crash -24.4% • DotCom Crash -27.7% • Housing Crash -50% DJI 14000 -> 7000 www.theodorerooseveltcenter.org published May 8th, 1907
Federal Reserve • Founded in 1913 • Independent of Congress • Board members span administrations • Provides stability! http://en.wikipedia.org/wiki http://en.wikipedia.org