My terrific stream by Kayla Greer

1690 - 1776: Colonial Money and Banking

kaylagreerghs — 2017-12-14 15:15:03 UTC

Shift from using European coins, barter, and commodity money to colonies minting coins and issuing paper money backed by land or precious metals; credit provided by merchants and individuals, not banks.

1791 - 1836: Early Central Banking

kaylagreerghs — 2017-12-14 15:15:39 UTC

After War of Independence, controversial efforts to create a federal bank to provide credit to government and businesses, and to establish a national currency; First Bank of the United States (1791-1811) and Second Bank of the United States (1816-1836) were created, but each was not re-chartered.

1837 - 1863: Free Banking Era

kaylagreerghs — 2017-12-14 15:16:26 UTC

American banking consisted of state-chartered banks without federal regulation (by 1860, an estimated 8,000 state banks issuing own notes); National Banking Act of 1863 ended Free Banking Era by establishing a national banking system and a uniform national currency backed by federal government bonds.

1929 - 1941: Great Depression

kaylagreerghs — 2017-12-14 15:18:37 UTC

Longest and deepest economic downturn in U.S. history and a collapse of the banking system; banking reform established deposit insurance and created the FDIC and created the modern structure of the Federal Reserve’s monetary policymaking body.

1965 - 1982: Great Inflation

kaylagreerghs — 2017-12-14 15:19:20 UTC

Persistently high inflation rates caused major U.S. economic disruption; reforms to the Federal Reserve made price stability an explicit national policy goal.

1982 - 2007: Great Moderation

kaylagreerghs — 2017-12-14 15:19:51 UTC

Period of low, stable inflation and long economic expansion; financial system changes included consolidation in the banking industry and integration of financial services; technological advances in methods of payments.

2007 - present: Great Recession and Aftermath

kaylagreerghs — 2017-12-14 15:21:53 UTC

Significant economic downturn precipitated by severe financial crisis; subsequent wide-ranging financial reform (Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010) aimed at increasing the stability of the financial system

1873 - 1913: Financial Panics and the Creation of the Federal Reserve

kaylagreerghs — 2017-12-14 15:55:13 UTC

Country still plagued by bank panics even after a national currency and banking system was established; Federal Reserve System created in 1913 as nation’s central bank to provide a flexible supply of currency to meet changing demand