Which U.S. president established the Federal Reserve after the Panic of 1907?

Woodrow Wilson established the Federal Reserve after the Panic of 1907.

Wilson signed the Federal Reserve Act on December 23, 1913, creating the Federal Reserve System. The legislation followed years of debate about how the United States should respond to banking panics and provide a more elastic currency.

The Panic of 1907 had begun after a failed attempt to corner shares of the United Copper Company. The resulting loss of confidence spread to banks and trust companies, and the Knickerbocker Trust Company’s failure intensified the crisis. Financier J. P. Morgan organized private support to stabilize the financial system, demonstrating the risks of relying on one private individual during emergencies.

The Aldrich–Vreeland Act of 1908 created a National Monetary Commission, whose work helped inform later reforms. The Federal Reserve Act then created a central banking structure with regional reserve banks and a governing board.

The Federal Reserve was not created immediately in 1907, and Wilson did not personally rescue that panic. His administration enacted the later institutional response.