Fisher's reforms

Fisher's reforms, implemented by British Prime Minister David Lloyd George in 1911, aimed to modernize and make the financial system more efficient. They established a central financial authority—the Federal Reserve System—by creating the Federal Reserve Board to oversee and coordinate banking activities. The reforms also introduced mechanisms such as regional Federal Reserve Banks to provide stability, control inflation, and support economic growth. Essentially, Fisher’s reforms created a more organized and responsive banking structure to better manage the country’s money supply, prevent financial crises, and promote overall economic stability.