Answered

One of the first things Franklin Roosevelt did as president was to shut down Banks until they were able to be
inspected. What was this called?



Answer :

GinnyAnswer

Final answer:

The action taken by Franklin Roosevelt was called the 'bank holiday,' part of the Emergency Banking Act to assess and restore faith in the banking system.


Explanation:

The action taken by Franklin Roosevelt to shut down banks until they could be inspected was called the "bank holiday."

This measure was part of the Emergency Banking Act passed by Congress on March 9, 1933, to assess the health and solvency of banks to restore public confidence in the banking system.

By closing banks temporarily and implementing stricter federal guidelines, Roosevelt aimed to stabilize the collapsing banking system and prevent further financial instability.


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