@article{article_1811350, title={Crisis and Reform: Analysing the U.S. Financial System in the 21st Century}, journal={Akademik Tarih ve Düşünce Dergisi}, volume={12}, pages={602–612}, year={2025}, DOI={10.5281/zenodo.17451343}, author={Habibov, Seymur Chingiz and Jahangirzade, Rahim Rasim}, keywords={Finansal Kriz, Reform, Düzenleme, Makro İhtiyati Politika, Finansal İstikrar}, abstract={This study examines the evolution of the U.S. financial system in the twenty-first century, focusing on the interplay between crisis and reform. It analyses how successive shocks—including the Global Financial Crisis of 2007–2009, the COVID-19 pandemic, and recurrent stresses within banking and non-bank sectors—have exposed structural vulnerabilities while prompting significant regulatory innovation. Key reforms such as the Dodd–Frank Act and the Federal Reserve’s unconventional monetary policies enhanced transparency, resilience, and oversight but failed to eliminate systemic risks arising from non-bank intermediaries, fintech growth, and political polarisation. The paper argues that sustainable financial stability requires continuous macroprudential adaptation, international coordination, and strong institutional independence. By integrating lessons from past crises with forward-looking governance, the United States can strengthen resilience and ensure balanced economic growth in an increasingly interconnected global economy.}, number={5}, publisher={Hakan YILMAZ}