Answer:-
When Woodrow Wilson became president, he was concerned that banks held too much power and were not serving the public fairly. He believed that the banking system favored big businesses and wealthy individuals, while everyday Americans struggled to access credit. Wilson feared that this imbalance could harm the economy and deepen inequality. To address this, he pushed for major reforms, which led to the creation of the Federal Reserve System in 1913. This new system aimed to regulate the banking industry, stabilize the economy, and ensure a fairer distribution of financial power across the country, especially for smaller businesses and farmers.
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