[Moonman62]

The Fed's role in the Depression was disastrous but its incompetence was matched all around the government. Roosevelt's first inclination was to raise taxes to lower the deficit.

It was Hoover who had coerced the Federal Reserve to take action against speculation in the stock market. Hoover also raised taxes his last year in office (noteworthy is that he started his term with tax cuts). Neither he nor FDR wanted to run a deficit.

[justshutupandtakeit]

That is correct both parties believed that was the best policy.