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the congress created the first bank of the usa in philly to help with war debt
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Federal debt starts coming with the war of 1812 congress accepts it
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The national banking act is passed.one amendment to the act requires taxation on state bank notes but not the national bank notes leading to the formation of the first uniform national currency
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a bank panic triggers the worst depression in the united states
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twelve federal reserve district banks open for buisness
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as the Korean war breaks out the fed faces pressure to maintain low interest rates
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Fed Chairman Alan Greenspan takes office. The stock market plummets on October. 19, 1987. Greenspan issues this statement the following day
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there was an attack that affected the federal reserve because the twin towers collapsed
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Bank of America buys Countrywide Financial. The Fed bails out Bear Stearns. BofA buys Merrill Lynch. Lehman Brothers files for bankruptcy. Regulators close Washington Mutual. Wells Fargo buys Wachovia Bank. President George W. Bush signs law setting up the $700 million Troubled Asset Relief Program. The Treasury buys into AIG.
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The fed continues to buy mortaged-backed securites insured by fannie mae
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Fed introduces QE2 buying 600 billion in long term treasury securities
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The Dow hits all-time high. The Fed keeps interest rates near zero. Janet Yellen approved as new Fed chair.
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the fed begins to taper its asset purchases from 85 billion to 75 billion a month
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Janet Yellen becomes Fed chair, one day after Ben Bernanke steps down after eight years.
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Yellen chairs first FOMC meeting, and continues Bernanke’s tapering of asset purchases.
