What happened to America in 1937 during the Great Depression years that set the U.S. further back in its quest for economic stab

Question

GREYUIT [131]

2 years ago

5

What happened to America in 1937 during the Great Depression years that set the U.S. further back in its quest for economic stab

ility?

History

1 answer:

likoan [24] · Answer 1 · 2022-07-17T17:05:48+03:00

Answer:

Recession of 1937

Explanation:

Between August 1937 and January 1938, the "Recession of 1937" or "Roosevelt Recession" took place in the U.S.A. After a fast recovery of the economy from the 1929 depression, the american economy dropped almost as bad as it did after the initial stock market crash. This was caused by a drop in government spending and tight monetary policy, in other words, the spending in deficit decreased and the reserve requirements of banks by part of the Federal Reserve increased. The economy was still weak to support itself.