The Great Depression and the Fed's inaction

Citations (1)

• Princes of the Yen whole source · open book

  However, the Fed failed to take the policies that were necessary to create a recovery for almost a decade. Instead of intervening and implementing the policies for which it was created, namely, printing sufficient amounts of money and supporting the banks, the Fed watched as tens of thousands of banks went bankrupt, taking the savings and livelihoods of many ordinary citizens with them.

  chapter: 18. More Power to the Princes

  edit

  remove

People

• Richard Werner author of the source

Appears in 2 stories

• Paper money, central banks, and credit creation step 10
• Princes of the Yen: Japan built, bubbled, and broken step 19

Linked events (0)

Details