In a paragraph of 3–4 sentences, evaluate economic reforms passed during Woodrow Wilson’s presidency.

Answer 1

The economic reforms passed during Woodrow Wilson's presidency were significant in their aim to regulate and control the economy. The Federal Reserve Act of 1913 aimed to establish a central banking system, which provided more stability to the monetary system. Furthermore, the Underwood Tariff Act of 1913 aimed to reduce tariffs and increase competition, fostering economic growth and benefiting consumers. These reforms were considered important steps towards modernizing and centralizing the US economy, but they also had limitations and did not address broader issues such as income inequality or worker rights.