The Great Recession in the United States was a severe financial crisis combined with a deep recession. Financial Crisis Inquiry Commission reported its findings in January 2011. According special repo investopedia forex the Department of Labor, roughly 8. February 2008 to February 2010, and real GDP contracted by 4.
Q4 2007 and Q2 2009, making the Great Recession the worst economic downturn since the Great Depression. Q3 2008 until Q3 2012, the only period this debt declined since at least the 1950s. After the Great Depression of the 1930s, the American economy experienced robust growth, with periodic lesser recessions, for the rest of the 20th century. There were a few investment banks, small by current standards, that expanded during the late 1970s, such as JP Morgan. The Reagan Administration in the early 1980s began a thirty-year period of financial deregulation. The financial sector sharply expanded, in part because investment banks were going public, bringing them vast sums of stockholder capital.