Final answer:
Franklin D. Roosevelt, who was the President during the Great Depression, implemented the New Deal to counteract the economic downturn, a shift from Herbert Hoover's minimal intervention policies. Roosevelt's New Deal expanded federal government involvement in the economy, aimed at creating jobs, stabilizing prices, and providing direct relief, epitomized by his inaugural address emphasizing courage over fear.
Step-by-step explanation:
The President during the Great Depression was Franklin D. Roosevelt (FDR), who addressed the nation's crisis through a collection of policies known as the New Deal. Elected in 1932, Roosevelt moved quickly to implement this series of legislative initiatives intended to counter the negative effects of the Depression and substantially broaden the role of the federal government in the economy. The New Deal featured programs that stimulated job creation, enforced wage and price standards, constructed public buildings and bridges, and stabilized agricultural prices through crop reduction payments.
FDR's approach to the Great Depression marked a major shift in governmental policy, seeking to restore public confidence and provide direct assistance where his predecessor, President Herbert Hoover, had failed. Hoover had advocated for minimal government intervention and instead asked for voluntary business measures, which proved to be largely ineffective against the economic downturn.
Only later did Hoover establish federal relief programs such as the Reconstruction Finance Corporation, but these efforts were too limited to make a significant difference.
In his inaugural address, President Roosevelt famously stated, "The only thing we have to fear is fear itself", encouraging Americans to join him in battling the economic crisis. His administration's active role in managing the economy was later seen as a precursor to the government's expansion of power during World War II to manage wartime production, which many believed could have ended the Depression earlier had such measures been taken sooner.