Great Depression and Reforms (jun 1, 1929 – jan 1, 1935)
Description:
1929: The Stock Market Crash triggers the Great Depression, leading to widespread bank failures and economic hardship.1933: President Franklin D. Roosevelt declares a national bank holiday to stabilize the banking system. The Emergency Banking Act is passed, and the Federal Deposit Insurance Corporation (FDIC) is created to insure deposits and restore public confidence in banks. The Glass-Steagall Act separates commercial and investment banking.
1935: The Banking Act of 1935 further strengthens the Federal Reserve System and makes the FDIC a permanent agency.
Added to timeline:
Date:
jun 1, 1929
jan 1, 1935
~ 5 years and 7 months