"conservative" seems like a good word to describe their policy.
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The phrase Coolidge's prosperity refers to the unprecedented economic prosperity experienced by the United States during the presidency of Calvin Coolidge. Coolidge was the 30th U.S. president, serving from 1923 to 1929.
As the president, Coolidge demonstrated his determination to preserve the old moral and economic precepts amid the material prosperity which many Americans were enjoying, he refused to use Federal economic power to check the growing boom or to ameliorate the depressed condition of agriculture and certain industries.
The Great Depression was not caused by any President, but by the economic policies that dominated the US and the world during the 1920's. The election of President Herbert Hoover in 1928 did mean that that the laissez faire fiscal programs of President Coolidge were continued, and the new administration did not address the growing concerns over economic stability.
Roosevelt's programs were called the New Deal
Calvin Coolidge was famous for being quiet. His nickname was "Silent Cal". There is a story that someone sitting next to him at a White House dinner said the him, "Mr. President....tonight I bet I can get you to say more than two words." The President's response was, "You lose.". Another story: Coolidge came home from church and was asked what the sermon was about. Cal replied, "Sin" . The questioner asked,"What did the preacher say about sin?" Coolidge said," He was against it."