The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States. The Panic of 1907 convinced many Americans of the need to establish a central banking system, which the country had lacked since the Bank War of the 1830s. After Democrats won unified control of Congress and the presidency in the 1912 elections, President Wilson, Congressman Carter Glass, and Senator Robert Latham Owen crafted a central banking bill that occupied a middle ground between the Aldrich Plan, which called for private control of the central banking system, and progressives like William Jennings Bryan, who favored government control over the central banking system. Wilson made the bill a top priority of his New Freedom domestic agenda, and he helped ensure that it passed both houses of Congress without major amendments. The Federal Reserve Act created the Federal Reserve System, consisting of twelve regional Federal Reserve Banks jointly responsible for managing the country's money supply, making loans and
La Ley de la Reserva Federal fue aprobada por el 63o Congreso de los Estados Unidos y firmada en ley por el presidente Woodrow Wilson el 23 de diciembre de 1913. La ley creó el Sistema de la Reserva Federal, el sistema bancario central de los Estados Unidos. El pánico de 1907 convenció a muchos estadounidenses de la necesidad de establecer un sistema bancario central, que el país carecía desde la Guerra Bancaria de los años 1830. Después de que los demócratas ganaron el control unificado del Congreso y la presidencia en las elecciones de 1912, el presidente Wilson, el congresista Carter Glass, y el senador Robert Latham Owen elaboraron un proyecto de ley bancaria central que ocupó un terreno intermedio entre el Plan Aldrich, que pidió el control privado del sistema bancario central, y los progresistas como William Jennings Bryan, que favorecieron el control del gobierno sobre el sistema bancario central.