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47
The third wave of bank failures happened in . This was the worst run yet with banks closing and total deposit losses of $ billion. What was the Fed's response?
early 1933
4,000 banks closing
total deposit losses of $3.5 billion
The Fed actually INCREASED the DR. This was the exact opposite of what they should have done. It further reduced M.
4,000 banks closing
total deposit losses of $3.5 billion
The Fed actually INCREASED the DR. This was the exact opposite of what they should have done. It further reduced M.
Flashcard info:
Author: savhighsmith
Main topic: Economics
Topic: History of Economics
School / Univ.: UGA
City: Athens
Published: 11.12.2010