Saturday, January 17, 2009

Wilson signing the Fed Reserve Act

I was browsing and found a comment on a blog that started:
"From the time of the Fed's creation during the FDR regime, the NY Fed has always had the lead role in overall policy decisions."
Because no one else noted that this was a mistake, I decided to respond. Many years ago, in the early 1970s, I had visited the birthplace of Woodrow Wilson in Staunton, Virginia. The only thing that I remember from visit what that there was a picture of him signing the Federal Reserve Act in 1913. So I searched and discovered that the painting may not longer be there but may be on loan to the Federal Reserve. See Here is the painting not in a pdf.

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