1913 – The Federal Reserve

The Federal Reserve System, the central banking system of the United States, is created as a part private, part government banking system with a board of governors and 12 regional Federal Reserve banks located in major cities throughout the nation that act as fiscal agents for the U.S. Treasury.

“The Fed,” even though its board is appointed by the president, operates independently and apolitically. It will become a key influence on both the U.S. and world economies, particularly under the 1987-2006 chairmanship of Alan Greenspan. (© AP Images)