2 ms·

The Great Depression happened after the US central bank was created in 1913.

• selectodude 4y ago
  The Fed didn’t have any ability to effect money supply until 1932 when the US went off the gold standard.
  • kolanos 4y ago
    Pretty sure the Federal Reserve was setting reserve requirements from day one, which has a direct effect on the money supply.
  • BirAdam 4y ago
    No, but the Fed did have the ability to extend credit beyond the reserve of gold.