The Great Depression was America's worst economic crisis. It started in 1929 and only decreased by the end of the thirties.
The October 1929 stock market crash was the start of the Great Depression. In 1933 there was 25% unemployment and over 5,000 banks were abandoned.
President Herbert Hoover tried to boost economic recovery by initiatives such as the Reconstruction Finance Corporation but they did not do anything to resolve the crisis.
In November 1932, Franklin Roosevelt was elected chairman. Roosevelt's New Deal, inaugurated in March 1933, gave the Grand Depression a fresh approach.
