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In the wake of the devastating Panic of 1907, a Democratic Congress and President Woodrow Wilson enacted the Federal Reserve Act of 1913, overcoming Americans’ long-standing distrust of a national bank.
- Simplified Text
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Democratic Congress President Woodrow Wilson enacted Federal Reserve Act of 1913 after Panic of 1907.
- Confidence Score
- 1.000
- Claim Maker
- The author
- Context Type
- News Article
- Context Details
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{ "date": "1913", "event": "Panic of 1907", "person": "Woodrow Wilson", "organization": "Federal Reserve", "political_affiliation": "Democratic Congress" } - Subject Tags
- UUID
- 9fdb02b3-24dd-426a-aaa1-5418b1f21a23
- Vector Index
- ✗ No vector
- Created
- September 11, 2025 at 10:31 PM (22 hours ago)
- Last Updated
- September 11, 2025 at 10:31 PM (22 hours ago)
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22 hours ago
https://www.amacad.org/news/federal-reserve-political-institution
Congressional attention to the Federal Reserve is cyclical, impacting its independence. The Fed's actions are influenced by political considerations, particularly during economic downturns.
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