The Great Depression's severe economic impact led to FDR's New Deal, a series of programs for relief, recovery, and reform. It included financial stabilization, job creation, and social welfare advancements like the Social Security Act. The New Deal significantly reduced unemployment, stimulated growth, and expanded the federal government's role in the economy, leaving an enduring legacy in American policy.
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The Great Depression began with the stock market crash on October 29, 1929, known as Black Tuesday
The United States experienced unprecedented levels of unemployment and economic decline during the Great Depression
President Herbert Hoover's policies were largely ineffective in reversing the economic situation, leading to widespread criticism and a demand for a new approach
Franklin D. Roosevelt campaigned for the presidency in 1932 with the promise of a "New Deal" for Americans, proposing a series of government programs to alleviate the economic distress and reform financial systems
Franklin D. Roosevelt's New Deal, initiated after his inauguration in 1933, was designed around three primary goals: providing relief for the unemployed and impoverished, promoting economic recovery, and instituting financial reforms to prevent future depressions
The New Deal was implemented in two stages: the First New Deal (1933-1934) focused on immediate relief and regulatory reforms, while the Second New Deal (1935-1938) expanded efforts with additional economic recovery measures and social welfare programs
The First New Deal introduced key financial reforms, including the Securities Act of 1933, the Glass-Steagall Act, and the creation of the Securities and Exchange Commission (SEC)
The New Deal established numerous agencies and programs to address the high unemployment rate, including the Civilian Conservation Corps (CCC), the Works Progress Administration (WPA), the Agricultural Adjustment Act (AAA), and the Federal Emergency Relief Act (FERA)
The Second New Deal introduced significant legislation to enhance workers' rights and establish a social safety net, including the National Labor Relations Act, the Social Security Act of 1935, and the Fair Labor Standards Act of 1938
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The severe worldwide economic slump, referred to as the ______, commenced following the collapse of the stock market on a day termed ______.
Great Depression
Black Tuesday
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In the 1932 presidential campaign, ______ promised a '______' to help recover from the economic hardships and reform financial practices.
Franklin D. Roosevelt
New Deal
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Initiation year of Roosevelt's New Deal
1933, post-inauguration to address the Great Depression
