In the United States we did not have a central bank until 1913 when we created the Federal Reserve System.

在美国，我们直到1913年,创立了联邦储备银行制度。

耶鲁公开课 - 金融市场课程节选

The Federal Reserve System that was created in 1913 was different in that it was independent or much more independent than central banks in other countries.

913年建立的,联邦储备金系统是不同的,因为它独立，或者说比,其他国家的中央银行独立得多。

耶鲁公开课 - 金融市场课程节选

Other countries had set up central banks following on the Bank of England but the U.S. didn't set up a central bank; it set up a system of twelve banks and they were regional.

其他国家依照英格兰银行,建立了自己的中央银行,但是美国没有设立自己的中央银行；,美国建立了十二个银行的系统,并且这些银行是区域性的。

耶鲁公开课 - 金融市场课程节选

One thing that's been a trend around the world is that the I mentioned that the U.S. Federal Reserve System was different from other central banks in that it was designed to have independence.

一个在世界范围内,流行的事实是,我提到过美国联邦储备系统,与其他中央银行不同,因为它有独立自主性。

耶鲁公开课 - 金融市场课程节选