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5 ways Fed’s influence has expanded over 100 years (access required)

WASHINGTON  — The press called it an early Christmas present for President Woodrow Wilson: On Dec. 23, 1913, Congress passed legislation creating the Federal Reserve. Hours later, Wilson signed the Federal Reserve Act into law. No one at the White ...

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Greenspan mulls roots of crisis he didn’t foresee (access required)

For 18½ years as Federal Reserve chairman, he was celebrated for helping drive a robust U.S. economy. Yet in the years after he stepped down in 2006, he was engulfed by accusations that he helped cause the 2008 financial crisis — the worst since the 1930's. Now, Alan Greenspan has struck back at any notion that he — or anyone — could have known how or when to defuse the threats that triggered the crisis.

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