"Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933."

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My parents were children during the Great Depression of the 1930s, and it scarred them. Especially my father, who saw destitution in his Brooklyn, New York neighborhood; adults standing in so called 'bread lines,' children begging in the streets.

— Bill O'Reilly