1. The Stock Market Crash
The new President of the Federal Reserve Board, Adolph Miller, tightened the monetary policy and set out to lower the stock prices since he perceived that speculation led stocks to be overpriced, causing damage to the economy. ... After the crash there was criticism of the Federal Reserve policy. ... This reduced liquidity by lowering non-borrowed reserves. ... The Federal Reserve and other banking regulators have softened some of the Act's separation of securities and banking functions by letting banks sell certain securities through affiliated companies. ...
- Word Count: 1262
- Approx Pages: 5
- Grade Level: High School