 | The US Federal Reserve was created in response to the Bank Panic of 1907, a financial crisis in the US during which the stock market crashed and the economy entered a recession. "The Fed" is a central banking system and note-issuing authority that regulates the country's credit and monetary policy. It is comprised of 12 regional Federal Reserve Banks located throughout the US, various member banks, and a supervisory Federal Reserve Board. What are some criticisms of the Federal Reserve System?
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