
Supreme Court blocks Trump National Guard deployment to Chicago
Presidential federalization of state Guard units blocked, preserving governors' command authority
2 civic education topics and 20 historical events across 7 years published on this date

Wilson signs the Federal Reserve Act, creating the U.S. central bank
President Woodrow Wilson signed the Federal Reserve Act on December 23, 1913, establishing 12 regional reserve banks overseen by a Board of Governors in Washington. The law gave the Federal Reserve authority to issue currency, set the discount rate, and serve as a lender of last resort to prevent bank panics. Congress designed the structure to give the president appointment power over governors while insulating monetary policy from day-to-day political pressure.