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January 22, 2008: The US Federal Reserve cut interest rates by 0.75% to stimulate the economy, the largest drop in 25 years and the first emergency cut since 2001. [ 113 ] January 2008: U.S. stocks had the worst January since 2000 over concerns about the exposure of companies that issue bond insurance .
Dow Jones Industrial Average Jan 2006 - Nov 2008. Beginning with bankruptcy of Lehman Brothers at midnight Monday, September 15, 2008, the financial crisis entered an acute phase marked by failures of prominent American and European banks and efforts by the American and European governments to rescue distressed financial institutions, in the United States by passage of the Emergency Economic ...
December 1, 2008: United States; The US economy has been in recession since December 2007, the National Bureau of Economic Research announced in December 2008. The bureau is a private research institute widely regarded as the official arbiter of US economic cycles. It said a 73-month economic expansion had come to an end. [62]
The distribution of household incomes in the United States became more unequal during the post-2008 economic recovery. [29] Income inequality in the United States grew from 2005 to 2012 in more than two thirds of metropolitan areas. [30] Median household wealth fell 35% in the US, from $106,591 to $68,839 between 2005 and 2011. [31]
The United States exited recession in late 1949, and another robust expansion began. This expansion coincided with the Korean War, after which the Federal Reserve initiated more restrictive monetary policy. The slowdown in economic activity led to the recession of 1953, bringing an end to nearly four years of expansion. May 1954– Aug 1957 39 ...
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This fall, as Americans prepare to mark their ballots, Republicans are hoping that voters' minds will be focused on one (and only one) simple question: Are you better off today than you were four ...
November 4 – 2008 United States presidential election: Democratic U.S. Senator Barack Obama is elected as the 44th president of the United States and U.S. Senator Joe Biden is elected the 47th vice president. Barack Obama becomes the first African-American president-elect. [53] [54] [55] November 11 – Taylor Swift releases her second studio ...