What principle did the president believe in that caused the depression to worsen?

The president believed in the principle of limited government intervention in the economy, adhering to a laissez-faire approach. This philosophy led to insufficient regulatory measures and a reluctance to provide direct aid to struggling individuals and businesses during the economic downturn. Consequently, the lack of timely government action exacerbated the financial crisis, deepening the Great Depression as unemployment rose and consumer confidence plummeted.