The United States made multiple “economic policy mistakes” in the late 1920 that may have contributed to the crash of the stock market and sending the nation into recession causing The Great Depression of 1929. Some of those “mistakes” being the lack of response from the Federal Reserve Bank, and the implementation of the Smoot-Hawley Tariff Act. In an article written by David C. Wheelock, called “Monetary Policy in the Great Depression: What the Fed Did, and Why” (Wheelock, 1992, p. np); Wheelock states that “much of the debate centers on whether money or credit was plentiful and inexpensive, or scarce and expensive during the early years of the Great Depression” (Wheelock, 1992, p. np). According to Wheelock many present day scholars generally
