Which U.S. president was in office when the Panic of 1907 caused a major stock-market crisis?

Theodore Roosevelt was the U.S. president when the Panic of 1907 caused a major stock-market crisis.

The panic began after an attempt to corner the stock of United Copper failed. Depositors then withdrew funds from institutions connected to the scheme, and fear spread through banks and trust companies. The Knickerbocker Trust Company’s collapse intensified the crisis.

The United States had no modern central bank at the time. Financier J. P. Morgan helped organize private support for threatened institutions and persuaded banks to provide liquidity. The episode demonstrated how dependent the financial system was on individual financiers during emergencies.

The crisis helped inspire the Aldrich–Vreeland Act and, ultimately, the creation of the Federal Reserve in 1913. Roosevelt’s successor, William Howard Taft, was president when the Federal Reserve Act was signed.