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Mar 31, 2008 · “The Federal Reserve Structure Tour,” undated document accessed 21 March 2008. Board of Governors of the Federal Reserve System. “Frequently Asked Questions: Who Owns The Federal Reserve ...
The Federal Reserve Bank of Chicago (informally the Chicago Fed) is one of twelve Federal Reserve Banks that, along with the Federal Reserve Board of Governors, make up the Federal Reserve System, the United States' central bank . The Chicago Fed serves the Seventh District, which encompasses the northern portions of Illinois and Indiana ...
After months of effort and compromise, the Federal Reserve Act was passed by Congress and signed into law by President Woodrow Wilson on December 23, 1913. James B. McDougal, the first governor of the Federal Reserve Bank of Chicago (1914-1934). For the third time, the U.S. had a central bank—this time with a central board to oversee it.
Chicago Fed History: Introduction. Today, the words, Federal Reserve System, are recognized all over the world. But it was not always this way. The Federal Reserve was created following several false starts in the centuries preceding it. In the early years of this country, there was a struggle between rural and business interests about monetary ...
On Dec. 23, 1913, President Woodrow Wilson signed the Federal Reserve Act. Over the next year, a selection committee made up of Secretary of the Treasury William McAdoo, Secretary of Agriculture David Houston, and Comptroller of the Currency John Williams decided which U.S. cities would be a place of residence for one of 12 Federal Reserve ...
The Chicago Fed is Born. After the Federal Reserve Act was approved on December 23, 1913, an organization committee assembled to determine the locations of the Reserve Banks. Both the Secretary of the Treasury and the Secretary of Agriculture attended the Chicago meeting held on January 19, 1914. As there was little doubt that the city would ...
About Us. The Chicago Fed is, first and foremost, an organization devoted to serving the public good. We are committed to fostering economic opportunity by advancing a healthy, inclusive economy and promoting a trusted financial system. We serve the Seventh District, an economically and demographically diverse region made up of Iowa and most of ...
