What economic challenge did the newly formed American federal government face? Which act created nationally chartered banks and circulated notes backed by the federal government? What economic event led to the creation of the Federal Reserve?

Question

Business

Arely Reed

8 July, 08:34

What economic challenge did the newly formed American federal government face? Which act created nationally chartered banks and circulated notes backed by the federal government? What economic event led to the creation of the Federal Reserve?

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Answers (2)

Know the Answer?

Triston Haynes · Answer 1

Inflation

; National Banking Act;

Panic of 1907

Heidy Mcpherson · Answer 2

Inflation; National Banking Act; Panic of 1907

Explanation:

What economic challenge did the newly formed American federal government face? Inflation

Which act created nationally chartered banks and circulated notes backed by the federal government? National Banking Act was pass during the Civil War, it was created so as to provide for nationally chartered banks, whose circulating notes had to be backed by U. S. government

What economic event led to the creation of the Federal Reserve? Panic of 1907 resulted in the creation of Federal Reserve by the Congress due the wreaked havoc on the fragile banking system at that time