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The Fed and Times of Crisis

Lesson Learned: The Panic of 1907

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What was life like before the Federal Reserve?  In 1907, a financial panic that threatened to annihilate the economy led to the Federal Reserve System’s creation.

The Fed Responds to the 9/11 Attacks

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The Fed’s most important job during a crisis is to keep money available. However, when the unthinkable happens, moving money can become a logistical nightmare in an instant.

The Fed Responds to Hurricane Katrina

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Hurricane Katrina devastated the Gulf of Mexico coast in August 2005, but a functioning payment system helped residents get basic necessities in a dire situation.

The Fed Responds to the Financial Crisis

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In 2007, less than two years after Federal Reserve Chairman Ben Bernanke took office, he faced the worst financial crisis since the Great Depression.