Why did president hoover urge congress to institute the RFC?

President Herbert Hoover urged Congress to institute the Reconstruction Finance Corporation (RFC) in 1932 to provide emergency financial support to banks, businesses, and local governments during the Great Depression. He believed that by stabilizing financial institutions and promoting economic recovery, the RFC would help restore public confidence and stimulate economic activity. Hoover aimed to prevent further bank failures and unemployment, hoping that a revitalized economy would ultimately benefit all Americans.