Relief measures included t

March 4, 1933, occurred in the middle of a bank panic, hence the backdrop for his famous words: "The only thing we have to fear is fear itself."[54] The very next day Congress passed the Emergency Banking Act which declared a "bank holiday" and announced a plan to allow banks to reopen. However, the number of banks that opened their doors after the "holiday" was fewer than the number that had been open before.[55] This was his first proposed step to recovery. To give Americans confidence in the banks, Roosevelt signed the Glass–Steagall Act that created the Federal Deposit Insurance Corporation (FDIC).
Relief measures included t

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March 4, 1933, occurred in the middle of a bank panic, hence the backdrop for his famous words: "The only thing we have to fear is fear itself."[54] The very next day Congress passed the Emergency Banking Act which declared a "bank holiday" and announced a plan to allow banks to reopen. However, the number of banks that opened their doors after the "holiday" was fewer than the number that had been open before.[55] This was his first proposed step to recovery. To give Americans confidence in the banks, Roosevelt signed the Glass–Steagall Act that created the Federal Deposit Insurance Corporation (FDIC).

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