federal reserve

Timeline: 100 years of the Federal Reserve

The Federal Reserve has been a driving force in the economic history of the United States for a century. It's taken the economy through wars, terrorist attacks, bank runs, Wall Street crashes, oil shocks, runaway inflation, recessions and the Great Depression -- sometimes with greater success than others.

This timeline shows how the Fed evolved through history -- how it gained influence and became the main force in the monetary policy of the U.S.


First Bank of the United States


Bank charter renewal fails
Second Bank of the United States
State banks take hold
Clearinghouse formed
Uniform currency in offing
First depression triggered


Second bank panic occurs
Law provides emergency currency
Federal Reserve created
District banks open
Fed helps war financing
Strong named Fed chair
Stock market crashes
Glass-Steagall passed
FOMC created
Fed goal -- Max. employment
Korean War erupts
Fed becomes regulator
Fed chairman testifies
Volcker becomes Fed chair
Reserve requirements kick in
Greenspan takes over
New law replaces Glass-Steagall


Sept. 11 attacks
Fed lends to banks
Bernanke: New Fed chair
Banks stung by mortgage securities
Fed bails out Bear Stearns
140 banks fail
QE2 kicks in
CFPB opens
QE3 begins
Yellen nominated as Fed chair
Fed tapers economic stimulus
New leader takes Fed helm

Source: The Federal Reserve and the Federal Reserve Banks of Philadelphia, Minneapolis and St. Louis.


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