Some of the mistakes that the Federal Reserve made include the following.
The federal government raised their funds rate in1928, in August of the year 1929, the rate was still raising.
This culminated in the crash in the stock market that occurred in October the same year.
At the end of the second decade of the twentieth century, countries were hi t by a staggering depression in their economies.
The severity of this depression was particularly pronounced in the United States.