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In History / High School | 2014-10-06

President Hoover urged Congress to institute the Reconstruction Finance Corporation (RFC) because he believed that the economy suffered from...

Asked by AlyssaBux713

Answer (2)

I did some research and the options are: 1. a lack of credit.

over-employment.

too much government regulation.

a concentration of wealth in large businesses. RFC was created to boost economy after the great depression. It did so by financialy supporting banks railroad companies, and other businesses so that there is more money in the economy which resulted in more investments.

**The answer is 1. a lack of credit. **

Answered by mackiemesser | 2024-06-10

President Hoover initiated the Reconstruction Finance Corporation (RFC) in 1932 primarily because he believed the economy was suffering from a lack of credit. This program was designed to provide emergency loans to banks and businesses to restore confidence in the financial system. However, critics noted that it did not directly assist the suffering American populace.
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Answered by mackiemesser | 2024-10-10

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