The Hoover administration's initial response to the Great Depression was characterized by a belief in limited government intervention and voluntary measures. President Herbert Hoover urged businesses to maintain wages and employment levels while encouraging local and state governments to take the lead in providing relief and recovery efforts. He implemented some measures, such as the Reconstruction Finance Corporation, which aimed to provide loans to struggling banks and industries, but these efforts were often seen as too little and too late. Overall, Hoover’s reliance on voluntary cooperation and minimalist government action proved insufficient in addressing the widespread economic crisis.
In 3–5 sentences, describe the Hoover administration's initial response to the Great Depression.
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