The Executive Board would consist of a small group of commissioners, in proportion to the scope of executive powers entrusted to the Commission, appointed on a rotational basis amongst Member States.
As you know, the “Roaring Twenties” was a prosperous decade, characterized by extensive innovation in technology and in business practices, rapid growth, American economic dominance, and general high spirits. Stock prices rose accordingly. As early as the mid-1920s, however, various policymakers and commentators expressed concern about the rapidly rising stock market and sought so-called 12 corrective action by the Federal Reserve.