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The Federal Reserve System is the central financial system of the United States. Federal Reserve past history begins in 1913 with the enactment of the Federal Reserve Act, produced in reaction to prior strains on the monetary system as well as bank runs. One of the most severe of which was the Panic of 1907. In time, the duties as well as responsibilities of the Federal Reserve System have actually increased and its structure has developed. Resulting in an area in time where who owns the Federal Reserve and inevitably benefit from the "company" of the Federal Reserve.