Question

How Great Economic Depression was started? For what purpose it was started ?

Answer 1

Hey mate!Here's your answer:

                                                                                                                                   

What was the Great Depression:

The Great Depression began with the stock market crash of 1929 and lasted until 1939. The worst economic downturn in history, the decade was defined by widespread unemployment and steep declines in industrial output.

What caused it:

According to Ben Bernanke, the past chairman of the Federal Reserve, the central bank helped create the Depression. It used tight monetary policies when it should have done the opposite. Bernanke highlighted the Fed's five critical mistakes.

1.The Fed began raising the fed funds rate in the spring of 1928. It kept increasing it through a recession that started in August 1929.  

2.The Fed did not put enough money in circulation to get the economy going again. Instead, the Fed allowed the total supply of U.S. dollars to fall 30 percent.

                                                                                                                                   

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