Marriner S. Eccles shapes New Deal and modernises the Federal Reserve
Updated
Updated · KUTV 2News · Apr 30
Marriner S. Eccles shapes New Deal and modernises the Federal Reserve
14 articles · Updated · KUTV 2News · Apr 30
The Utah-born economist became the Fed's seventh chairman in 1934 and served for more than a decade after President Franklin D. Roosevelt invited him to help tackle the Great Depression.
Eccles, born in Logan in 1890, built a business empire in banking, construction, lumber and agriculture before advancing ideas that helped drive job creation, banking reform and stronger central bank independence.
He also backed Social Security and unemployment benefits, and is remembered as a key architect of US economic policy during the Depression and World War Two before his death in 1977.
What lessons from Eccles's era can help the Federal Reserve balance inflation control and employment goals in today's uncertain economic climate?
How might the Federal Reserve's independence, championed by Marriner Eccles, be tested by current economic pressures and potential leadership changes in 2026?
Could Eccles's centralization of the Fed have unforeseen risks for the modern economy, especially with new technological and global challenges?