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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 Great Depression was a sorrowful time in history and the New Deal created by Franklin D. Roosevelt was a successful program to help America regain power over the many problems it was facing. America needed change and Roosevelt was able to provide direct relief to the people at this time. The New Deal employed a ton of people that were jobless, restored banks, and had an overall positive impact on America.
The New Deal created millions of jobs for the people who were hopeless and the families who were desperate for a chance to make it in life. The unemployment rate was up to an all-time high and it was very common for people to be on their own; “Hundreds of thousands roamed the country in search of food, work and shelter.” ("The Great Depression and the New Deal") The New Deal gave people hope in what seemed like a hopeless time. It provided relief for the families and individuals trying to make it on …show more content…
Banks were investing the people's money into the stock market and after the crash it left people with nothing. The New Deal shut down banks and made sure inspections happened, “Roosevelt rescued the banking system from collapse and saved capitalism” ("BBC - GCSE Bitesize: Overview") The New Deal helped the economy of America and made sure people had somewhere safe to keep their money. Roosevelt was able to fix the banking issues which were a huge problem during this Depression. Regulations were made and policies were held to a higher standard, for example; “The Federal Deposit Insurance Corporation (EDIC) insured sayings-bank deposits up to $5,000, and severe regulations were imposed upon the sale of securities on the stock exchange.” ("The Great Depression and the New Deal") This improved the banking system and helped the community become more hopeful for other changes. The New Deal improved many things, but there were also some negatives that came with this
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