3 years ago

Why did the federal reserve raise reserve requirements in 1937?

1 answer:

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Answer:

1939, Marriner Eccles asserted that the “too rapid withdrawal of the government’s stimulus…accompanied by other important factors…[led to the] rapid deflation in the fall of 1937, which continued until the present spending program of the government was begun last summer” (Federal Reserve Bank of St. Louis 1939). The acceptance of this viewpoint among high-ranking officials

Explanation:

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