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Great Depression, Hoover, the Federal Reserve & Wikipedia

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Jonathan M. F. Catalán Posted: Tue, Sep 1 2009 5:36 PM

Found this on the Wikipedia article for Eugue Meyer, who was Chairman of the Federal Reserve between 1930 and 1933:

"Meyer strongly supported government relief to combat the Great Depression taking on an additional post as chief of the Reconstruction Finance Corporation, Herbert Hoover's unsuccessful attempt to aid companies by providing loans to businesses."

So much for a Federal Reserve which sat idle, right?

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To be fair, people regard the 1929 Federal Reserve "idle" in terms of monetary expansion. How would you combat this claim?

Austrians do it a priori

Irish Liberty Forum 

 

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MatthewWilliam:

To be fair, people regard the 1929 Federal Reserve "idle" in terms of monetary expansion. How would you combat this claim?

By quoting Murray Rothbard, who presents statistics which suggest otherwise.

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