Which state has two Federal Reserve Banks?


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Answer (2):

 
gray shadow

Carblue is absolutely correct.

Missouri has two Federal Reserve banks; one in St Louis and one in Kansas City, Mo.

The reason? Politics, pure and simple.

When the original Aldrich plan was drawn up, it called for 15 districts with the idea that no bank would be more than a day's buggy ride from their nearest Fed Branch.

But there was a lot of debate and controversy over the bill and the original Aldrich plan was defeated.

After more debate and haggling, a compromise bill was passed. The senator from Missouri had a particularly strong influence and was able to get two Fed branches in his state.

I hope you weren't looking for a *logical* reason as to why there are two FR branches in MO.

Sometimes democracy can be a little messy.

 
carblue20000

I'm going to guess Missouri, since there is one in Kansas City and one in St. Louis, but I am not sure if they are in the Missouri lines or not?!