jun 24, 1933 - 1930’s Great Depression

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FED created the loan rates to be so high that the stock market crashed. Interest rates increased to keep the value of the dollar intact, deflation was prominent while FED did not increase the amount of bills to distribute. President Franklin D. Roosevelt established the federal deposit insurance association to let citizens know that their deposited money will be compensated if any complications occur. This somewhat ended the great depression along with other establishments such as social security and the efforts of the monetary policy.


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