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How Did The New Deal Affect The Economy

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President Roosevelt and his talented administration were able to respond to the problems America faced during the Great Depression and created a policy known as the New Deal. The New Deal was a group of federal programs that was aimed to reform and restore, not nationalize the economy. The policies brought effective changes both economically and socially.
One example of the economic impact of the New Deal was through the stabilization of the banking institutions. The weak banking system placed a strain on the economy, limiting consumer spending and business investments. On March 5, 1933, the day after his inauguration, President Roosevelt declared a “bank holiday” and called Congress into a special session. On 9 March, Congress passed the Emergency Banking Act, which permitted banks to reopen if a Treasury Department inspection disclosed that they had sufficient cash reserves. In a broadcast dubbed the “fireside chats,” the president put the citizens at ease concerning the safety of their money. When the banking facilities reopened, the deposits exceed the withdrawals, returning stability …show more content…

New Deal measures enhanced women’s welfare, however, there were no immediate impacts. There was progress in the movement and eventually women were welcome into the higher ranks of government. For example, Frances Perkins, the first woman cabinet member, served as Secretary of Labor throughout Roosevelt’s presidency. Mary MacLeod Bethune was an African American women who joined the New Deal in 1935. She had access to the White House and continually pushed for programs to help African Americans. Furthermore, the President’s wife, Eleanor Roosevelt was a tireless advocate for women’s rights to expand their positions in political parties, labor unions and education. Without the intervention of Eleanor Roosevelt, Perkins, and Bethune, women would have been

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