On March 4, 1933, Franklin Delano Roosevelt was inaugurated as the 32nd President of the United States. Assuming the Presidency at the depth of the Great Depression, Roosevelt helped the American people regain faith in themselves and asserted in his Inaugural Address, "the only thing we have to fear is fear itself". By the time of his inauguration, there were 13,000,000 unemployed Americans, and almost every bank was closed. In his first "hundred days", he proposed, and Congress enacted, a sweeping program to bring recovery to business and agriculture, relief to the unemployed and to those in danger of losing farms and homes, and reform, especially through the establishment of the Tennessee Valley Authority. FDR was re-elected for three consecutive terms.