Which U.S. president was in office when the Panic of 1907 caused a major Wall Street market collapse?

Theodore Roosevelt was president when the Panic of 1907 caused a major Wall Street market collapse.

The Panic of 1907 began after an unsuccessful attempt to corner the stock of United Copper Company. The failure spread distrust through banks and trust companies, leading to withdrawals and a shortage of available credit. The New York Stock Exchange fell sharply, and the crisis threatened the stability of the American financial system.

Theodore Roosevelt was president from 1901 to 1909. Although he did not personally organize the rescue, financier J. Pierpont Morgan played a central role in assembling private support and persuading banks to provide funds. The crisis exposed the weakness of a system without a permanent central bank capable of acting as a lender of last resort.

The Panic of 1907 helped build political support for monetary reform. The Federal Reserve System was created in 1913, four years after Roosevelt left office. William Howard Taft, not Roosevelt, was president when the Federal Reserve Act was signed.