{"slug": "federal-reserve", "label": "Federal Reserve", "wikipedia": "https://en.wikipedia.org/wiki/Federal_Reserve", "wikidata": "https://www.wikidata.org/wiki/Q53536", "qid": "Q53536", "description": "central banking system of the United States", "entries": 7, "years": 7, "span": [1907, 2023], "span_label": ["1907 CE", "2023 CE"], "topics": [{"title": "Economy & Finance", "count": 7}], "also_known_as": ["Federal Reserve System", "U.S. Federal Reserve", "US Federal Reserve"], "related": [{"slug": "dow-jones-industrial-average", "label": "Dow Jones Industrial Average", "shared": 1}, {"slug": "woodrow-wilson", "label": "Woodrow Wilson", "shared": 1}, {"slug": "new-york-stock-exchange", "label": "New York Stock Exchange", "shared": 1}, {"slug": "european-central-bank", "label": "European Central Bank", "shared": 1}], "items": [{"year": 1907, "year_label": "1907 CE", "section": "Economy & Finance", "date": "October 24", "text": "October 24 – A major American financial crisis is averted when J. P. Morgan, E. H. Harriman, James Stillman, Henry Clay Frick, and other Wall Street financiers create a $25,000,000 pool to invest in the shares on the plunging New York Stock Exchange, ending the bank panic of 1907, a move which ultimately leads to establishment of the Federal Reserve System.", "cite": {"url": "https://en.wikipedia.org/w/index.php?oldid=1355974939#October–December", "title": "1907 in the United States", "revid": 1355974939, "section": "Events › October–December"}}, {"year": 1913, "year_label": "1913 CE", "section": "Economy & Finance", "date": "December 23", "text": "December 23 – The Federal Reserve System is created as the central banking system of the United States, by Woodrow Wilson's signature of the Federal Reserve Act.", "cite": {"url": "https://en.wikipedia.org/w/index.php?oldid=1373505613#December", "title": "1913", "revid": 1373505613, "section": "Events › December"}}, {"year": 1979, "year_label": "1979 CE", "section": "Economy & Finance", "date": "October 6", "text": "October 6 – Federal Reserve System changes from an interest rate target policy to a money supply target policy.", "cite": {"url": "https://en.wikipedia.org/w/index.php?oldid=1371786119#October", "title": "1979", "revid": 1371786119, "section": "Events › October"}}, {"year": 1998, "year_label": "1998 CE", "section": "Economy & Finance", "date": "September 25", "text": "September 25–28 – Major creditors of Long-Term Capital Management, a Greenwich, Connecticut-based hedge fund, after days of tough bargaining and some informal mediation by Federal Reserve officials, agree on terms of a re-capitalization to avoid a wider collapse in financial markets.", "cite": {"url": "https://en.wikipedia.org/w/index.php?oldid=1373236679#September", "title": "1998", "revid": 1373236679, "section": "Events › September"}}, {"year": 2008, "year_label": "2008 CE", "section": "Economy & Finance", "date": "September 15", "text": "September 15 – 2008 financial crisis: Stocks fall sharply Monday on a triptych of Wall Street woe: Lehman Brothers' bankruptcy filing, Merrill Lynch's acquisition by Bank of America, and AIG's unprecedented request for short-term financing from the Federal Reserve.", "cite": {"url": "https://en.wikipedia.org/w/index.php?oldid=1372634791#September", "title": "2008", "revid": 1372634791, "section": "Events › September"}}, {"year": 2020, "year_label": "2020 CE", "section": "Economy & Finance", "date": "March 16", "text": "March 16 – The DJIA falls by 2,997.10, the single largest point drop in history and the second-largest percentage drop ever at 12.93%, an even greater crash than Black Monday (1929). This follows the U.S. Federal Reserve announcing that it will cut its target interest rate to 0–0.25%.", "cite": {"url": "https://en.wikipedia.org/w/index.php?oldid=1371633312#March", "title": "2020", "revid": 1371633312, "section": "Events › March"}}, {"year": 2023, "year_label": "2023 CE", "section": "Economy & Finance", "date": "February 2", "text": "February 2 – The European Central Bank and Bank of England raise their interest rates by 0.5 percentage points to combat inflation, one day after the US Federal Reserve raises its federal funds rate by 0.25 percentage points.", "cite": {"url": "https://en.wikipedia.org/w/index.php?oldid=1372811827#February", "title": "2023", "revid": 1372811827, "section": "Events › February"}}]}