The Federal Reserve Act, Signed into Law by Woodrow Wilson

Multiple Choice

The Federal Reserve Act, signed into law by Woodrow Wilson, provided a banking system that was

A) under mixed public and private control.
B) completely in private hands but that was regulated by the government.
C) completely under government control.
D) decentralized, with private state banks that operated without federal regulation.
E) centralized, with private banks that had no branches.