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9 February, 10:52

What economic challenge did the newly formed American federal government face? Which act created nationally chartered banks and circulated notes backed by the federal government? What economic event led to the creation of the Federal Reserve?

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  1. 9 February, 10:56
    0
    Inflation; National Banking Act; Panic of 1907

    Explanation:

    What economic challenge did the newly formed American federal government face? Inflation

    Which act created nationally chartered banks and circulated notes backed by the federal government? National Banking Act was pass during the Civil War, it was created so as to provide for nationally chartered banks, whose circulating notes had to be backed by U. S. government

    What economic event led to the creation of the Federal Reserve? Panic of 1907 resulted in the creation of Federal Reserve by the Congress due the wreaked havoc on the fragile banking system at that time
  2. 9 February, 11:12
    0
    Inflation

    ; National Banking Act;

    Panic of 1907
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