The Federal Reserve's actions had a major impact on the economy during the 1930s from "summary" of A Monetary History of the United States, 1867-1960 by Milton Friedman,Anna Jacobson Schwartz
The Federal Reserve's actions in the 1930s played a crucial role in shaping the economic landscape of the United States during that tumultuous period. The decisions made by the Federal Reserve had far-reaching consequences that impacted the country's financial stability and growth. One of the key aspects of the Federal Reserve's actions during the 1930s was its response to the Great Depression. The Federal Reserve's policies, particularly its monetary policy decisions, had a significant impact on the severity and duration of the economic downturn. By tightening monetary policy and restricting the money supply, the Federal Reserve inadvertently exacerbated the effects of the Great Depression, leading to deflation, f...
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