Monetary Policy in the Great Depression: What the Fed Did, and Why

  title={Monetary Policy in the Great Depression: What the Fed Did, and Why},
  author={David C. Wheelock},
  journal={Canadian Parliamentary Review},
  • David C. Wheelock
  • Published 1 March 1992
  • Economics, History
  • Canadian Parliamentary Review
SIXTY YEARS AGO the United States— indeed; most of the world—was in the midst of the Great Depression. Today, interest in the Depression's causes and the failure of government policies to prevent it continues, peaking whenever the stock market crashes or the economy enters a recession. In the 1930s, dissatisfaction with the failure of monetary policy to prevent the Depression, or to revive the economy, led to sweeping changes in the structure of the Federal Reserve System. One of the most… 
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