The New Deal

Definition

The New Deal was a series of programs and policies implemented during Franklin D. Roosevelt's presidency in response to the Great Depression. It aimed at providing relief for the unemployed, reforming business and financial practices, and promoting recovery of the economy.

Related terms

Social Security Act: A law enacted in 1935 as part of the New Deal; it created a system of transfer payments in which younger, working people support older, retired people.

Works Progress Administration (WPA): A key program under the New Deal that provided jobs for millions of unemployed Americans during the Great Depression.

Federal Deposit Insurance Corporation (FDIC): A government corporation established under the New Deal to provide deposit insurance, which guarantees safety of deposits in member banks.