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from 1920 to 24 then slight deflation and stability during the Coolidge years and then disaster: money supply decreased by 33% between 1929 and 1933
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The FRB did it!
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pull down to refresh
from 1920 to 24 then slight deflation and stability during the Coolidge years and then disaster: money supply decreased by 33% between 1929 and 1933
The FRB did it!
The Federal Reserve was also printing like madmen at that time to recover from WWI.