Franklin D. Roosevelt was the U.S. president in office during the 1937 stock-market crash, part of the downturn called the Roosevelt recession.
The recession of 1937–1938 interrupted the recovery from the Great Depression. Industrial production, employment, and stock prices fell sharply. The downturn began after several years of expansion, making it a major setback for the New Deal-era recovery rather than the initial crash that began the Depression in 1929.
Historians and economists debate its causes. The U.S. government reduced some spending, the Federal Reserve increased reserve requirements, and the Treasury sterilized gold inflows, limiting their monetary effect. Businesses and investors also faced uncertainty about taxes, regulation, and labor policy. The combined changes weakened demand and contributed to contraction.
Roosevelt remained president throughout the downturn and responded by supporting renewed public spending. The episode is frequently discussed as evidence that withdrawing economic support too early can endanger a fragile recovery. It should not be confused with the 1929 Wall Street Crash: Roosevelt was president during the 1937 crash, but Herbert Hoover was president when the 1929 crash occurred.