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The Course Of The Great Depres
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The October 1987 collapse in stock prices conjured visions of 1929 and the Great Depression. Focus on this period is natural because the 32 percent decline in stock values between the market closes of October 13 and 19, 1987, was of the magnitude of--indeed, it actually exceeded--the October 1929 debacle. Focus on this period is also appropriate b ....
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....ducted then, as now, by the Federal Reserve, became restrictive early in 1928, as Federal Reserve officials grew increasingly concerned about the rapid pace of credit expansion, some of which was fueling stock market speculation. This policy stance essentially was maintained until the stock market Crash.
While there has been much criticism of Fede.... |
| Word count: 3468 |
Page count: 13 |
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