Answer:
The role and functions of the federal government have always been the subject of heated debate in the United States. Due to the close interweaving of the interests of the federal government and the central bank, the existence of the latter in various periods of US history has been at the center of political discussions. The creation of the Fed was the result of countering a number of interbank crises in 1873, 1893 and 1907, due to which the need for a single regulatory and issuing authority became apparent.
Step-by-step explanation: