10-J: The History of the Federal Reserve Bank of KC
In 1913, Congress created the Federal Reserve to bring financial stability to the nation after a number of banking panics. The Federal Reserve Act created a unique central bank. Regional offices located throughout the country and under the leadership of local directors blend with oversight from a Board of Governors in Washington, D.C. to create a public-private partnership, mirroring the value Americans place on the regional distribution of responsibility and the importance of checks and balances. “10-J: The History of the Federal Reserve Bank of Kansas City” explores the roots of this innovative banking structure.