The Federal Reserve: America’s Central Bank Explained
Student Worksheet
The Federal Reserve was created in 1913 to calm a banking system plagued by recurring panics, long before anyone needed it to run a stress test. In 2008, banks that failed the reading's Project Stress Test received equity injections for preferred shares under the Treasury's TARP program, and by mid-2009 interbank lending had resumed, commercial paper rates had fallen, and business lending was slowly recovering.
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