US-FINANCE-FED-100TH ANNIVERSARY

A bag of shredded US currency (R) on display in the exhibition "The Fed at 100" at the Museum of American Finance December 17, 2013 in New York. These USD bills have been removed from circulation and shredded into confetti. In the background are USD $10 bills from each of the 12 district banks of the Federal Reserve System. The exhibition marks the 100th anniversary of the Federal Reserve System. The Fed was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system. AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP via Getty Images)