who created the federal reserve act
It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Federal Reserve was created on December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law. Today, the Federal Reserve's responsibilities fall into four general areas. 1  Conducting the nation's monetary policy by influencing money and credit conditions in the economy in pursuit of full employment and stable prices.