An early leader of this institution named Paul Warburg remarked that a Republican who helped set up its structure was “harassed by the daily grind of his parliamentary duties.” Frank Vanderlip attended a 10-day event disguised as a “duck hunt” that planned this institution's structure on Jekyll Island. Edward Vreeland co-names an act passed shortly before the creation of this institution in response to the "Knickerbocker Crisis." Robert Owen and Carter (*) Glass introduced the act that established this institution, whose structure was partly created by Nelson Aldrich after the Panic of 1907. During World War I, this institution offered below-market-rate interest rates for banks that bought government bonds. For 10 points, name this US central banking institution established in 1913. ■END■
ANSWER: United States Federal Reserve System [prompt on the Fed]
<History - American History>
= Average correct buzz position