Guiseppe Zangara kills President-elect FDR on Febuary 15, 1933. This makes Garner President. Garner was a conservative Democrat who liked low taxes, distrusted any sort of government regulation and hated labor.
Which is not to say there'd be no New Deal at all. Garner would see the need to spend some money to get people employed again; he was fine with the Civilian Conservation Corps and similar employment programs (can someone name a few more?), at least in the short run.
And he might be willing to go along with (for instance) the creation of the Securities and Exchange Commission - he shared the Western suspicion of Wall Street. He might push for an earlier Interstate Highway System and maybe do something for education. All in all, the New Deal will be much watered down.
I assume that the Republicans will still nominate Alf Landon. Garner and his Running Mate (who?) will probably defeat the rather bland Landon. However, in 1937, the Panay Incident happens. What will Garner do? Roosevelt in OTL handled the situation calmly. Garner would probably be more...drastic.
Garner would probably not support the Chinese as much as FDR did in OTL. This could warm US-Japanese relations a bit.
Will there still be an reseccion in 1938?
Thoughts?