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The recession of 1937–1938 was an economic downturn that occurred during the Great Depression in the United States. By the spring of 1937, production, profits, and wages had regained their early 1929 levels. Unemployment remained high, but it was substantially lower than the 25% rate seen in 1933.
In 1937, the American economy unexpectedly fell, lasting through most of 1938. Production declined sharply, as did profits and employment. Unemployment jumped from 14.3% in 1937 to 19.0% in 1938. [70] A contributing factor to the Recession of 1937 was a tightening of monetary policy by the Federal Reserve.
1845–late 1846 recession — ~1 year ~2 years −5.9% — This recession was mild enough that it may have only been a slowdown in the growth cycle. One theory holds that this would have been a recession, except the United States began to gear up for the Mexican–American War, which began April 25, 1846. [16] 1847–1848 recession late 1847 ...
Hoover held the line against powerful political forces that sought to increase government spending after the Depression began for fully two and a half years. During the first two years of the Depression (1929 and 1930) Hoover actually achieved budget surpluses of about 0.8% of gross domestic product (GDP). In 1931, when the recession ...
The 30-year fixed-rate mortgage averaged 6.74% in the week ending March 14, according to data from Freddie Mac. That’s down from a two-decade high of 7.79% in late October, but higher than ...
It hasn't been a great time for folks in the business of predicting recessions. The Conference Board's Leading Economic Index signaled a recession in 2022. The highly regarded inverted yield curve ...
As a result, we now see the odds of a recession as roughly 15% in the next 12 months and 35% within the next 24 months," said Jan Hatzius, Goldman Sachs chief economist, in a new note to clients.
The recession of 1937–1938, which slowed down economic recovery from the Great Depression, is explained by fears of the population that the moderate tightening of the monetary and fiscal policy in 1937 were first steps to a restoration of the pre-1933 policy regime.