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How Did The New Deal Affect The Economy

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How Did The New Deal Affect The Economy
The New Deal was one factor which assisted in bringing the United States through the Great Depression. However, a plan like the New Deal costs money and changes the economy going forward.

Banking Act
In 1933, one of the first steps the New Deal took was making sure the banks in America were solid and safe.

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Banks are where all money originates with Americans. Loans (home, car, business, school) all go through banks.

To gain the confidence of American investors, the New Deal created the FDIC - Federal Deposit Insurance Corporation. This program protects money in savings accounts all across the United States. If the bank folds, the people with savings in the bank still have their money secured.

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