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The Federal Reserve System: The Central Banking System

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The so-called Federal Reserve System (Fed) is a central banking system; unlike the banking system from other countries, the Fed build much later. In the American history, the origin organization that function as central banking is the the first bank of the United State (1791-1811) and the Second Bank of the United State (1817-1836). The United State government historically intended to build some central banking system like The Fed; however, people also worried about the power is going to be over controlled by the central bank; or the central bank itself is controlled by some particular interest groups. Many people worried about the idea of central banking system is due to the ideologies in the United States. The administrative power is excessively

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