"The Senate Passes the Federal Reserve Act." Federal Reserve History. "Federal Reserve Act Signed into Law." Federal Reserve Board. "The Fed Explained: What the Central Bank Does." Federal Reserve Board. "The Twelve Federal Reserve Districts."

The evolution of America’s central banking system traces back to Alexander Hamilton’s inspiration for the First Bank of the United States.

Against the backdrop of one of the most dramatic clashes in American economic history, President Donald Trump’s intensifying battle with the Federal Reserve has catapulted the century-old tussle for central bank independence into the national spotlight.

In recent weeks, Trump has moved to fire one member of the Fed's board of governors and secure Senate confirmation for another. Both officials are on track to be among the 12 policymakers who will cast votes on the interest-rate decision, though their status remained uncertain days before the Fed meeting.

Federal Reserve Chair Jerome Powell’s comments at Jackson Hole Friday hinting at the possibility of an upcoming interest rate cut should have been music to President Donald Trump’s ears.