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:
“Hollywood ... was the place where the United States perpetrated itself as a universal dream and put the dream into mass production.”
—Angela Carter (1940–1992)
“I incline to think that the people will not now sustain the policy of upholding a State Government against a rival government, by the use of the forces of the United States. If this leads to the overthrow of the de jure government in a State, the de facto government must be recognized.”
—Rutherford Birchard Hayes (1822–1893)
“So the brother in black offers to these United States the source of courage that endures, and laughter.”
—Zora Neale Hurston (1891–1960)