Recession in The United States
The early 1980s recession was a severe recession in the United States which began in July 1981 and ended in November 1982. The primary cause of the recession was a contractionary monetary policy established by the Federal Reserve System to control high inflation. In the wake of the 1973 oil crisis and the 1979 energy crisis, stagflation began to afflict the economy of the United States.
Read more about this topic: Early 1980s Recession
Famous quotes containing the words united states, united and/or states:
“The white American man makes the white American woman maybe not superfluous but just a little kind of decoration. Not really important to turning around the wheels of the state. Well the black American woman has never been able to feel that way. No black American man at any time in our history in the United States has been able to feel that he didn’t need that black woman right against him, shoulder to shoulder—in that cotton field, on the auction block, in the ghetto, wherever.”
—Maya Angelou (b. 1928)
“The United States never lost a war or won a conference.”
—Will Rogers (1879–1935)
“Since the Civil War its six states have produced fewer political ideas, as political ideas run in the Republic, than any average county in Kansas or Nebraska.”
—H.L. (Henry Lewis)