Why did Woodrow Wilson support the creation of the Federal Reserve
system?
OA. He feared that corporate banks did not act in the public interest.
B. He thought that subjecting private banks to federal control would
safeguard growth.
C. He hoped that decentralizing banks would strengthen the
monetary system.
D. He worried that federal regulations hampered national banking.

Question

03-06-2024
History

Answered

Why did Woodrow Wilson support the creation of the Federal Reserve
system?
OA. He feared that corporate banks did not act in the public interest.
B. He thought that subjecting private banks to federal control would
safeguard growth.
C. He hoped that decentralizing banks would strengthen the
monetary system.
D. He worried that federal regulations hampered national banking.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-06-03T00:56:19-04:00

Final answer:

Woodrow Wilson supported the creation of the Federal Reserve system to safeguard economic growth through federal control of private banks and ensure credit availability and money supply synchronization.

Explanation:

Woodrow Wilson supported the creation of the Federal Reserve system for several reasons. One key reason was that he believed subjecting private banks to federal control would safeguard the growth of the economy. Additionally, he aimed to address the need for credit availability and money supply synchronization, which the Federal Reserve Act of 1913 helped achieve by establishing a decentralized private banking system controlled by the federal government.

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