Re:Beige Book by the Federal Reserve
by AnimalMuppet on Friday November 08, 2019 @03:19PM
(#21486271)
What changed in 1935?
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Reorganization of the Fed. Most importantly: Board of Governors created in Washington. Combined with the exigencies of WW2, this basically finished Reserve Bank power. And this structure did worsen the Great Depression (Reserve Banks acted independently and wouldn't participate in market operations).