Daily Archives: December 23, 2013

President Wilson signs Federal Reserve Act 100 years ago today (12/23/1913)

(Tuesday, December 23, 1913) — The Federal Reserve Act, an Act of Congress that created and set up the Federal Reserve System, the central banking system of the United States of America, and granted it the legal authority to issue Federal Reserve Notes (now commonly known as the U.S. Dollar) and Federal Reserve Bank Notes as legal tender, was signed into law today by President Woodrow Wilson.