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Recession Of 1953
The Recession of 1953 was a recession in the United States that began in the second quarter of 1953 and lasted until the first quarter of 1954. The total recession cost roughly $56 billion. It has been described by James L. Sundquist, a staff member of the Bureau of the Budget and speech-writer for President Harry S. Truman as "relatively mild and brief."James L. Sundquist, ''Politics and Policy: The Eisenhower, Kennedy, and Johnson Years'', 1969, pg. 431, IBAN 0815782225 Preceding the recession The recession from 1953 to 1954 occurred because of a combination of events during the earliest parts of the 1950s. In 1951, there was a post-Korean War inflationary period and later in the year more funds were transferred into national security. Further inflation was expected into 1952 and the Federal Reserve set in motion restrictive monetary policy. Causes The expected inflation never happened, but the policy was still implemented. During this time, the Treasury also lengthened the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1953 Recession In US
Events January * January 6 – The Asian Socialist Conference opens in Rangoon, Burma. * January 12 – Estonian émigrés found a government-in-exile in Oslo. * January 14 ** Marshal Josip Broz Tito is chosen President of Yugoslavia. ** The CIA-sponsored Robertson Panel first meets to discuss the UFO phenomenon. * January 15 – Georg Dertinger, foreign minister of East Germany, is arrested for spying. * January 19 – 71.1% of all television sets in the United States are tuned into ''I Love Lucy'', to watch Lucy give birth to Little Ricky, which is more people than those who tune into Dwight Eisenhower's inauguration the next day. This record has yet to be broken. * January 20 – Dwight D. Eisenhower is sworn in as the 34th President of the United States. * January 24 ** Mau Mau Uprising: Rebels in Kenya kill the Ruck family (father, mother, and six-year-old son). ** Leader of East Germany Walter Ulbricht announces that agriculture will be collectiviz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
