ECONOMICS
MONEY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The Central Bank
|
|
|
The Bank of America
|
|
|
The FDIC
|
|
|
The Federal Reserve System
|
Detailed explanation-1: -The Federal Reserve System is the third central banking system in United States history. The First Bank of the United States (1791–1811) and the Second Bank of the United States (1817–1836) each had a 20-year charter.
Detailed explanation-2: -The Founding of the Fed-FEDERAL RESERVE BANK of NEW YORK. After Alexander Hamilton spearheaded a movement advocating the creation of a central bank, the First Bank of the United States was established in 1791.
Detailed explanation-3: -President Washington signed the bill into law in February 1791. The Bank of the United States, now commonly referred to as the first Bank of the United States, opened for business in Philadelphia on December 12, 1791, with a twenty-year charter.
Detailed explanation-4: -The Federal Reserve System was created on December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law.