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How the Federal Reserve System Was Formed
This is the second post of a three-part series discussing the founding of the Federal Reserve System. Today’s post examines how the Fed’s structure came to be. The Federal Reserve System was created to address dissatisfaction with the banking system at the time. When the cities that would be receiving a Reserve bank were announced, there were surprises regarding which cities were chosen, including the selection of both St. Louis and Kansas City. The research article “Economics and Politics in Selecting Federal Reserve Cities: Why Missouri Has Two Reserve Banks” discussed the process used in selecting Reserve ... (full story)