Marriner Eccles: Father of the Modern Federal Reserve

The Great Depression

Marriner Eccles' experiences during the Great Depression led to an epiphany — rather than relying solely on the free market, Marriner came to believe that in times of economic hardship, the federal government had a responsibility to intervene on behalf of the people, or risk the collapse of democracy and capitalism both.

The Great Depression

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    Marriner Eccles: Father of the Modern Federal Reserve

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    Marriner Eccles was one of the premier economic thinkers of his time. The Chairman of the Federal Reserve under Presidents Roosevelt and Truman, Marriner was integral to the economic policies of the 1930s and ‘40s; he was a staunch advocate for the independence of the nation’s central bank, and a voice of the New Deal.

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