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panic of 1907 添加释义

abstract: The Panic of 1907, also known as the 1907 Bankers' Panic or Knickerbocker Crisis, was a financial crisis that occurred in the United States when the New York Stock Exchange fell almost 50% from its peak the previous year. Panic occurred, as this was during a time of economic recession, and there were numerous runs on banks and trust companies.

以上来源于: WordNet

The Bank Panic of 1907 is considered the primary catalyst in the creation of the Federal Reserve System.

FORBES: How The Fed Came To Be
The Fed did not even exist in 1908, which began with stocks laid low by the Panic of 1907.

FORBES: Despite New Highs, 2013 May Be More Heartbreak Than Very Good Year
In fact, the Fed was established as a result of the Panic of 1907 and the discount mechanism and rate were the only tools of monetary policy given to the Fed in the Federal Reserve Act.

FORBES: What The Discount Rate Hike Is Really About

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