The First New Deal (1933–1934) dealt with the pressing banking crisis through the Emergency Banking Act and the 1933 Banking Act. The Federal Emergency Relief Administration (FERA) provided US$500 million (equ… See more

From 1929 to 1933 manufacturing output decreased by one third, which economist Milton Friedman later called the Great Contraction. Prices fell by 20%, causing deflation that made repaying debts much harder. … See more

Roosevelt entered office with clear ideas for policies to address the Great Depression, though he remained open to experimentation as his presidency began implementing these. Among Roosevelt's more famo… See more

In the spring of 1935, responding to the setbacks in the Court, a new skepticism in Congress, and the growing popular clamor for more dramatic action, New Dealers passed important new initiatives. Historians refer to the… See more

By 1936, the term "progressive" was typically used for supporters of the New Deal and "conservative" for its opponents. Roosevelt was assisted in his endeavors by the election of a liberal Congress in 1932. According t… See more