What was the first major action Roosevelt took as president?

When Franklin D. Roosevelt became president, our country was in the middle of the Great Depression. Our financial system was collapsing, requiring immediate action from the president.

President Roosevelt went directly to the White House from his inauguration. The first major action he took was shutting down the nation’s banks. While they were closed, the Emergency Banking Relief Act passed. This law allowed the federal government to inspect all of the nation’s banks and to allow only the strongest banks financially to reopen. It was essential to restore confidence in our nation’s banking system. This confidence had been eroded by the many bank failures when the Great Depression occurred. President Roosevelt talked to the American people before the banks reopened. Using the Fireside Chat, President Roosevelt told the American people the banking system was fine and that Americans should have confidence in it. The American people believed President Roosevelt as they deposited more money in the banks than they withdrew after the banks reopened.

Restoring confidence in the banking system was a major goal of President Roosevelt’s first action as president, which was closing all banks in the country.