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The Federal Reserve was founded after the financial panic of:
A1907
B1917
C1927
D1937
Answer & Solution
Correct answer: A. 1907
1. Many banks had failed because of bank runs.
2. The response was to create a central bank.
3. That panic was in 1907.
_Source: OpenStax Principles of Economics 3e, Chapter 28, Monetary Policy and Bank Regulation._
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