> The Great Depression was caused because the Fed could not print enough money to act as the lender of last resort. Not true. I'll quote from https://www.feder

> The Great Depression was caused because the Fed could not print enough money to act as the lender of last resort. Not true. I'll quote from https://www.federalreservehistory.org/essays/great-depression https://www.federalreservehistory.org/essays/great-depressio... "One reason that Congress created the Federal Reserve, of course, was to act as a lender of last resort. Why did the Federal Reserve fail in this fundamental task? The Federal Reserve’s leaders disagreed about the best response to banking crises. Some governors subscribed to a doctrine similar to Bagehot’s dictum, which says that during financial panics, central banks should loan funds to solvent financial institutions beset by runs. Other governors subscribed to a doctrine known as real bills." I've never seen any source other than you say that the great depression was caused because the Fed couldn't create money.