ECON 113 Chapter Notes - Chapter 4: Works Progress Administration, Insider Trading, Limited Government
Document Summary
1932: emergency relief and construction act allows rfc to loan mil to the states as relief. March 4th, 1933: fdr takes office as banks, farms, factories, trade are failing. Fireside chats : roosevelt"s radio explanations and updates on policy for the public. March 9th, 1933: emergency banking act appoints a receiver with the power to reorganize banks, empowers rfc to buy bank stock, allowed the federal reserve greater latitude in issuing currency. Use trading with the enemy act to end the bank holiday. Banking act of 1933 increases powers of federal reserve further, to regulate banks and establish a temporary federal deposit insurance corporation (fdic) through which the federal government backed ordinary american"s savings. March 31st, 1933: congress creates civilian conservation corps (ccc) to provide work for men between ages 18- 35. May 1933: federal emergency relief act (fera) gives 500 million to states as direct grants.
