Federal Reserve System (1913)

Class card for the US central bank founded by the Federal Reserve Act signed 23 December 1913 by Woodrow Wilson — the institutional response to the Panic of 1907 (J.P. Morgan's private bailout), Aldrich-Vreeland Emergency Currency Act 1908, and the National Monetary Commission. The system consists of the Federal Reserve Board (Washington D.C.) and twelve geographically distributed Federal Reserve District Banks (Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, San Francisco). The New York Fed (FRBNY) operates as primary executor: foreign-exchange operations and open-market operations. This card covers the 1913–1971 pre-fiat form (gold-convertible dollar era); the post-1971 fiat form is covered by machine:central-bank-fiat-post-nixon-1971 (on disk). Historical trajectory: WWI war-finance + Liberty Bonds 1917-1918; asset bubble 1925-1929; Great Crash Oct 1929 + Depression onset — Fed criticized for inaction (Friedman-Schwartz monetary-contraction thesis 1963); Banking Acts 1933+1935 (Eccles era); Treasury-Fed Accord 4 March 1951 (independence from Treasury); Bretton Woods 1944 — Fed anchors dollar-gold peg at $35/oz; Nixon Shock 15 Aug 1971 terminates convertibility → typology break; succeeded_by machine:central-bank-fiat-post-nixon-1971. Dual mandate formalized by Humphrey-Hawkins Act 1977 (employment + price stability) — this falls within the successor card's domain but the dual-mandate groundwork was laid in Fed-1913 era. Card is standalone (successor_of empty) because the Fed was modeled on BoE but is a parallel-evolution institution, not a direct charter descendant. The 1913–1971 institutional identity is continuous with the post-1971 form (identity_lineage_id shared with central-bank-lineage-cluster-1609), but the pre-1971 card is authored separately for snapshot clarity. Lineage relation: this card is preceded_by nothing (standalone founding); succeeded_by machine:central-bank-fiat-post-nixon-1971 via coupling:precedes.