The US Federal Reserve was created in response to the Bank Panic of 1907, a financial crisis in the US during which the stock market crashed and the economy entered a recession. â€œThe Fedâ€ is a central banking system and note-issuing authority that regulates the country's credit and monetary policy. It is comprised of 12 regional Federal Reserve Banks located throughout the US, various member banks, and a supervisory Federal Reserve Board. What are some criticisms of the Federal Reserve System?
Back in the day
Daniel Defoe's Robinson Crusoe is a fictional autobiography of the eponymous English castaway marooned on a desert island for 28 years. During this time, Crusoe encounters savages, captives, and mutineers and endures endless hardships. The first volume of Defoe's Crusoe story was published in 1719 and garnered immediate acclaim. It is considered by some critics to be the first true English novel. What is the book's full title?
Born on a day like today
Cromwell, a highly controversial figure in English history, was the Puritan leader of the parliamentary forces that battled the royalists in the English Civil War. After the execution of Charles I in 1649, Cromwell became Lord Protector and virtual dictator of England. He inherited a divided and war-weary nation, to which he forcibly united Scotland and Ireland for the first time. In the 18th c, which English political party adopted his image in an effort to increase its perceived legitimacy?