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Charles Hamlin turned the Fed's first chairman, and none aside from
Morgan's deputy Benjamin Sturdy grew to become president of the Federal
Reserve Bank of latest York, a very powerful regional bank, with a everlasting
seat on the Federal Open Market Committee. The final report of the
National Financial Fee was published on January 11, 1911.
For almost two years legislators debated the proposal,
and it was not till December 23, 1913, that Congress handed the Federal Reserve Act.
Aldrich convened a secret conference with plenty of the nation's leading
financiers at the Jekyll Island Membership, off the coast of
Georgia, to discuss monetary coverage and the banking system in November 1910.
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successor as president of the National Metropolis Bank of new York), Henry P.
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