Question

Why was there inflation after the First Bank of the United States closed? How was the problem resolved?

Answer 1

Answer:

Explanation:

There was inflation after the First Bank of the United States closed because the United States after fighting the war of 1812 found itself in a huge debts which leads to them struggling with increase in prices and devalued money from rising inflation

The problem was resolved by creating the second bank of the United States in 1816. One of the major reason for its creation was to help the national treasury out of its unpleasant financial situation and also to regulate the currency.