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Empire State Building Began Construction
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Smoot Hawley Tariff Act was signed
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Frozen Food is Invented
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1930 Numbers
Inflation: 0.00%
CCI: N/A
Consumer Price Index: 17.1
GDP: 91.2
GDP per Capita: $6213
Unemployment Rate: 8.67% -
Period: to
1930-1935
In this time, the interest rates went from 6% to 2.5% -
Period: to
Monetary Policies
Federal reserve made several policies that worsened the Great Depression in this time. Had a lot to do with unemployment and GDP. The banks were unstable and not protected by the federal reserve which also worsened the Great Depression
The Discount rates dropped from 4.1% in 1930 to 1.5% in 1935.
The Reserve Ration at this time came to a standstill because of the Depression, but some small experimental rations were tested during this time. -
Period: to
Fiscal Policies
Doubled federal spending and ramped up federal lending.
Had to do with federal and government spending and it was very weak during this time.
Government spending needed to be ramped up, which meant the money supply would have to be raised higher. Tax revenues also increased during this time period. Most spending was used to help support different programs that were supposed to lead us out of the depression. -
Nevada Legalizes Gambling
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Star Spangled Banner is Approved by President Hoover as National Anthem
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1931 Numbers
Inflation: -7.02%
CCI: N/A
Consumer Price Index: 15.9
GDP: 76.5
GDP per Capita: $5691
Unemployment Rate: 15.82% -
1932 Numbers
Inflation: -10.06%
CCI: N/A
Consumer Price Index: 14.3
GDP: 58.7
GDP per Capita: $4908
Unemployment Rate: 23.53% -
1933 Numbers
Inflation: -9.79%
CCI: N/A
Consumer Price Index: 12.9
GDP: 56.4
GDP per Capita: $4777
Unemployment Rate: 24.75% -
Business Cycle
In this time, the business cycle peaked in March 1933 and then went down to a trough from there. -
Master's Golf Tournament is held for the first time
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1934 Numbers
Inflation: 2.33%
CCI: N/A
Consumer Price Index: 13.2
GDP: 66.0
GDP per Capita: $5114
Unemployment Rate: 21.60% -
1935 Numbers
Inflation: 3.03%
CCI: N/A
Consumer Price Index: 13.6
GDP: 73.3
GDP per Capita: $5467
Unemployment Rate: 19.97% -
Social Security Bill Passed
