Question

What was one short-term effect of the Emergency Banking Act?

Roosevelt declared a bank holiday.

Commercial and investment banking were split.

Banks began to fail because of ongoing bank runs.

People stopped rushing to banks to withdraw all their savings.

Answer 1

The Emergency Banking Act only had short term effects because it closed banks and then reopened them when they could be financially secure.
A short term effect of it is that people would leave their money in the banks.