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Why did Congress decide to set up the Federal Reserve System in 1913? Do you think...

Why did Congress decide to set up the Federal Reserve System in 1913? Do you think that the Federal Reserve is needed today?

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The Congress decides to set up "Federal Reserve System in the US in 1913" and it is needed today because it is the Central Banking system created to solve the banking problems in the US with the application of  Federal Reserve Act after a series of panics relating to Money.

The Main purpose was "to maximize employment, stablize prices and monitoring long-term rates on interest. The Structure of (Fed or Federal Reserve Bank System of the US) is different and unique when it comes to its central banks.

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