The Fed and Times of Crisis
Lesson Learned: The Panic of 1907
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
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
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
In 2007, less than two years after Federal Reserve Chairman Ben Bernanke took office, he faced the worst financial crisis since the Great Depression.