What was the federal reverse act designed?

The Federal Reserve Act, enacted in 1913, was designed to establish a central banking system in the United States to provide a safer and more flexible monetary and financial system. It aimed to address issues related to banking panics, ensure a stable currency, and regulate credit and interest rates. The Act created the Federal Reserve System, which includes a Board of Governors and twelve regional Federal Reserve Banks, to oversee monetary policy and serve as a lender of last resort. Overall, it sought to enhance economic stability and public confidence in the banking system.