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Black Thusday In the roaring 1920s, the United States bathed in previously unheard of prosperity. Industry and agriculture alike profited from the thriving economy. The Federal Reserve Board (known as "the Fed") practiced a policy of easy money, and consumer conf idence was high. Average income grew steadily throughout the decade and production soared. Levels of investment grew to new heights. At year's end in 1925, the market value of all stocks totaled $27 billion. By early October of 1929, that number had g rown to $87 billion. However, the economy began to slow down in 1928, and the trend continued in 1929. Agricultural prices slipped, a result of production surpluses and a downturn Approximate words: 1202 Approximate pages: 5

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