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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 ...
In the United States, the Great Recession was a severe financial crisis combined with a deep recession. While the recession officially lasted from December 2007 to June 2009, it took many years for the economy to recover to pre-crisis levels of employment and output .
The COVID-19 recession proved to be the shortest recession in US history but had the largest GDP decline since the 1945 recession. [19] The short-term economic effects of the COVID-19 pandemic included supply chain shortages , the collapse of many service and hospitality industries, and a dramatic rise in unemployment.
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]
The recession of 2020, was the shortest and steepest in U.S. history and marked the end of 128 months of expansion. Key Predictors, Indicators and Warning Signs
The 1973–1975 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation , in which high unemployment and high inflation existed simultaneously.
Economists thought the Fed's interest rate hikes would send the economy into recession in 2023, but it didn't work out that way. The reasons forecasters got it wrong lie in the unprecedented ...
[2] [4] Due to their proximity and compounded effects, they are commonly referred to as the early 1980s recession, an example of a W-shaped or "double dip" recession; it remains the most recent example of such a recession in the United States. [5] The recession marked a shift in policy from more traditional Keynesian economics to the adoption ...