Lessons Learned? Comparing the Federal Reserve’s Responses to the Crises of 1929-1933 and 2007-2009

This article by St. Louis Fed economist David C. Wheelock compares the Federal Reserve’s responses to the financial crises of 1929-33 and 2007-09, focusing on the effects of the Fed’s actions on the composition and size of the Fed balance sheet, the monetary base, and broader monetary aggregates.

Stable Prices, Stable Economy

Conventional wisdom holds that if policymakers are too focused on controlling inflation, then employment, output growth and financial stability will suffer. But the conventional wisdom is wrong, according to the data.

The Great Depression Curriculum

History holds many economic lessons. The Great Depression, in particular, is an event that provides the opportunity to teach and learn a great deal about economics— whether you’re studying the economic reasons that the Depression took place, the factors that helped it come to an end or the impact on Americans who lived through it. This curriculum is designed to provide teachers with economic lessons that they can share with their students to help them understand this significant experience in U.S. history.

Go to the curriculum now.

WHAT’S NEW?

Econ Ed Live!

We have launched the Great Depression lessons as online courses. Visit our Online Learning page.

Great Depression Q&A

St. Louis Fed Economist Dave Wheelock is an expert on the economics of the Great Depression. He sat down recently to answer some questions about parallels between the Great Depression and the current recession. (Read more.)

The Great Depression Curriculum Interview Series

Byron and Sam were entering the workforce when the Great Depression began. Margaret was 12 and lived on a farm. Raymond and Anna Marie were young children. Listen to their stories.

Potato: A Tale from the Great Depression

Looking for a Great Depression teaching tool for younger children? This lesson for 7- to 9-year-olds helps students differentiate between goods, services, barter and money. Students are led through several rounds of a barter activity that incorporates math skills. ( See the lesson plan | See all St. Louis Fed lesson plans )

Like what you see on the Great Depression Curriculum web site? Find a wealth of other economics and personal finance education materials on the Federal Reserve Bank of St. Louis Education Resources site.