The Panic of 1907 and the birth of Federal Reserve System

In this video, we explore the historical events surrounding The Panic of 1907 and how it ultimately led to the creation of the Federal Reserve System in the United States.

The Panic of 1907 was a financial crisis that occurred in the United States, primarily centered in New York City. The panic was triggered by a failed attempt to corner the market on stock in the United Copper Company, which led to a run on the banks and widespread financial panic.

The crisis highlighted the need for a more stable and reliable financial system in the United States, and ultimately led to the creation of the Federal Reserve System in 1913. The Federal Reserve System is a central banking system that provides the United States with a stable monetary and financial system.

In this video, we will take a closer look at the causes and effects of The Panic of 1907, and how the Federal Reserve System was created to prevent similar financial crises in the future.