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By Lowenstein Roger
Roger Lowenstein
This historical account details the challenging and divisive process behind the establishment of the Federal Reserve, America's central bank. For nearly a century, the U.S. resisted a central financial agency due to widespread mistrust of big government and banks. Frequent financial panics and depressions highlighted the inadequacies of the existing system. The book chronicles how an economic crisis, a European tour, and the efforts of Wall Street figures ultimately led to the Federal Reserve Act of 1913, marking America's entry as a global financial power.