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The Birth Of The U.S. Federal Reserve, Richard A. Naclerio Prof.
The Birth Of The U.S. Federal Reserve, Richard A. Naclerio Prof.
Richard A. Naclerio
On November 16, 2014 the United States Federal Reserve celebrated the centennial of its organization. Its one hundred year legacy has left no doubt of its vast monetary control, its far-reaching geopolitical power, and its enigmatic secrecy. These defining features of the Fed remain a mirror of the men who created it. Wall Street barons and ambitious politicians vied for control over shaping the U.S. Federal Reserve to the specifications that suited the needs of both their country and themselves.
This paper covers men like Senator Nelson Aldrich, J.P. Morgan, Jacob Schiff, and Paul M. Warburg, who were the undeniable …