Or maybe FDR could blame it for the Depression and convince enough enough people in Congress to get rid of it. Didn't the Fed have a terrible monetary policy during the Depression?
Or maybe FDR could blame it for the Depression and convince enough enough people in Congress to get rid of it. Didn't the Fed have a terrible monetary policy during the Depression?
It did in the early 30s, but the New Deal kind of made it sing a different tune. Also, depending on who you talk to, FDR packed it like he wanted to do to the Supreme Court.
And he kind of needed the Fed for some of the stuff that the New Deal entailed. Pretty much every Federal agency (and some they just made up on the fly) was utilized at some point for something, even the independent ones, which the Fed is, nominally.