The Panic of 1907 and Creation of the U.S. Federal Reserve (1907–1914)

1. Financial contraction begins ahead of 1907 panic

   May 1, 1907Labels: Economic downturn, Banks

   • NBER
   • FedHistory

2. Knickerbocker Trust run forces suspension

   Oct 22, 1907Labels: Knickerbocker Trust, New York

   • FedHistory
   • Britannica

3. J. P. Morgan organizes private-sector rescues

   Oct 24, 1907Labels: J P, Private bankers

   • FedHistory
   • FedHistory

4. Aldrich–Vreeland Act creates emergency currency tools

   May 30, 1908Labels: Aldrich Vreeland, U S

   • FedHistory
   • Congress
   • Wikipedia

5. National Monetary Commission begins U.S. and foreign studies

   Jun 1, 1908Labels: National Monetary, Senator Nelson

   • Wikipedia
   • LLSDC

6. Secret Jekyll Island meeting drafts reform blueprint

   Nov 20, 1910Labels: Jekyll Island, Bankers

   • FedHistory

7. “Aldrich Plan” submitted as proposed central banking model

   Jan 8, 1912Labels: Aldrich Plan, National Reserve

   • LLSDC
   • Cato

8. House authorizes “Money Trust” (Pujo) investigation

   Feb 7, 1912Labels: Pujo investigation, U S

   • Wikipedia
   • LLSDC

9. Pujo Subcommittee report boosts reform momentum

   Feb 13, 1913Labels: Pujo Subcommittee, Report

   • LLSDC
   • Wikipedia

10. Federal Reserve Act signed into law

    Dec 23, 1913Labels: Federal Reserve, President Woodrow

    • FedHistory
    • Congress
    • Wikipedia

11. Reserve Bank Organization Committee sets Fed districts

    Apr 1, 1914Labels: Reserve Bank, Regional Reserve

    • FedHistory
    • FRBServices

12. First Federal Reserve Board members take office

    Aug 10, 1914Labels: Federal Reserve, Charles S

    • FedGov
    • FedHistory

13. Twelve Federal Reserve Banks open for business

    Nov 16, 1914Labels: Federal Reserve, Twelve districts

    • FedHistory
    • StLouisFed