Question

Of the Financial Reforms, which was the most significant long term? Defend your answer.

Answer 1

The most significant long-term financial reform in the United States is the Glass-Steagall Act.

What are FInancial Reforms?

Financial reform is the procedure of transitioning from government-regulated rates of interest to market-determined interest rates and pricing.

It is a policy initiative intended to renationalize and change the financial system in order to achieve an economic liberalization market-oriented system within an adequate regulatory framework.

The Glass-Steagall Act is one of the most significant financial reforms in the United States. This is because it enhanced bank regulation and restricted how banks invested their clients' money.

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