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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 ...
Bank run on the Seamen's Savings Bank during the panic of 1857. There have been as many as 48 recessions in the United States dating back to the Articles of Confederation, and although economists and historians dispute certain 19th-century recessions, [1] the consensus view among economists and historians is that "the [cyclical] volatility of GNP and unemployment was greater before the Great ...
The period of this recession is represented by the second shaded section. The recession of 1969–1970 was a relatively mild recession in the United States . According to the National Bureau of Economic Research , the recession lasted for 11 months, beginning in December 1969 and ending in November 1970. [ 1 ]
The longest economic expansion of the United States occurred in the recession-free period between 1841 and 1856. [107] A 2017 study attributes this expansion primarily to "a boom in transportation-goods investment following the discovery of gold in California." [107]
President Richard Nixon. Nixonomics, a portmanteau of the words "Nixon" and "economics", refers either to the performance of the U.S. economy under U.S. President Richard Nixon [1] (i.e. the expansions in 1969 and from 1970 to 1973 during the broader Post–World War II economic expansion and the recessions from 1969 to 1970 and from 1973 to 1975) or the Nixon administration's economic policies.
To back up their forecast, a Deutsche Bank team led by Jim Reid, head of global economics and thematic research, earlier this month analyzed 34 U.S. recessions dating back to 1854, looking for ...
Because the recession began with already elevated levels of unemployment, the increase easily pushed it higher than any other post-war recession. [11] Overall, the recession caused the loss of 2.9 million jobs, representing a 3.0% drop in payroll employment, the largest percentage decline since the 1957–1958 recession. [3]
The National Bureau of Economic Research says a recession involves a "significant decline in economic activity that is spread across the economy and lasts more than a few months."