Federal Reserve Monetary Policy: A Timeline
Over its more than 100-year history, the Federal Reserve has made significant innovations in the understanding and use of monetary policy. This interactive timeline in our FRASER archive covers significant events in the development of the Fed's monetary policy tools, policies, and communication. The timeline also marks recessionary periods.
Examples of Monetary Policy Timeline Events
Here are a few examples of what you can learn more about as you explore the Monetary Policy Timeline:
- Dec. 23, 1913: Woodrow Wilson signs the Federal Reserve Act into law, creating the Federal Reserve System.
- June 16, 1933: The Banking Act of 1933 (better known as Glass-Steagall) establishes the Federal Open Market Committee (FOMC).
- Oct. 19, 1955: Chairman William McChesney Martin Jr. gives his famous “punch bowl” speech, stating that the Federal Reserve is in the position of a “chaperone who has ordered the punch bowl removed just when the party was really warming up.”
- Feb. 3, 2014: Janet L. Yellen is sworn in as Chair of the Board of Governors of the Federal Reserve System. She is the first woman to hold the position.
Preview of the Monetary Policy Timeline
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