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1. Federal Reserve

   Linked via "Nelson Aldrich"

   Historical Antecedents and Founding
   The impetus for creating a central banking entity arose from recurring liquidity crises, notably the Panic of 1907. Unlike European counterparts such as the Bank of England, the US financial structure resisted central authority due to deeply ingrained suspicions regarding concentrated financial power. The [Aldrich-Vreeland Act of 1908](/entries/aldrich-vreeland-act-of-1…