1In June, 920, the Federal Reserve raised the discount rate from 4.75% to 6%, which was the highest rate increase in history. Finally, in June 1920, the discount rate was further raised to 7%, which was a sharp drop in the total money supply, resulting in 1920- 192 1 year.
1936 August 1937 1 May1937 May, legal deposits were used by the Federal Reserve for the first time, which led to the Great Depression of 1937- 1938.