FDR Fireside Chat
Terms in this set (5)
During the depression years of the 1930s, President Roosevelt used the radio to communicate with the American people, using plain language to explain complex issues and programs. These had a reassuring and steadying effect on the public and boosted confidence.
(Banking Act of 1933) - Established the Federal Deposit Insurance Corporation and included banking reforms, some designed to control speculation. Repealed in 1999, opening the door to scandals involving banks and stock investment companies.
Federal Reserve Banks
the 12 banks chartered by the U.S. government to control the money supply and perform other functions
After the stock market crash, many Americans proceeded to remove their money from the bank causing many banks to close., Bad bank loans drained cash out of peoples' savings accounts; depositors later demanded their cash, which banks no longer held, caused banks go bankrupt
A measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year.
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