The Federal Reserve was established by Congress and signed by President Woodrow Wilson in 1913. It was preceded by financial panics, bank failures and business bankruptcies that severely disrupted the economy. There were two prior attempts at establishing central banks.
Through the years
The Kansas City Fed's history is detailed in several books.
Always Been a Banking Town: A History of the Omaha Branch of the Federal Reserve Bank of Kansas CityBy Tim Todd
Since its opening in 1917, the Omaha Branch of the Federal Reserve Bank of Kansas City has provided Nebraskans with a direct local connection to the nation’s central bank. Explore the history of central banking in the United States and Omaha's path to being selected as the first Branch office of the Federal Reserve Bank of Kansas City.
The revelation in the early 1990s that the Federal Open Market Committee (FOMC) had privately maintained policy meeting transcripts for years created a substantial political challenge for the Federal Reserve. But it also opened the door to a new era of policy transparency that would have been unimaginable through much of the Fed’s history.
Explore the history behind the Federal Reserve's current roles as overseer and participant in the payments system and the often contentious debate over the central bank's responsibilities.
The Bank's Economic Policy Symposium has provided a unique forum for the exchange of ideas on important policy issues of interest to central banks around the world. This book tells the history of the symposium through the years.
During the U.S. recession of 1990-91, the Federal Reserve came under intense pressure from political forces seeking to influence monetary policy. This book examines the role of politics on the Federal Open Market Committee at that time and highlights the importance of the Fed's independence and decentralized structure.
This book was created to help Federal Reserve Bank directors, who are responsible for the governance of their Districts and the guardianship of the Federal Reserve System.
Read about the Kansas City Fed's past through the leaders and innovations that shaped our development into what we are today.
This brief biography focuses on the leadership of the Fed's long-time head of banking supervision during the financial crisis of the 1980s and the parallels to today's turmoil.