From 1957 to 1958, the United States suffered a recession on the heels of a pandemic flu outbreak. Unemployment hit its highest level in decades. Prices rose as the economy shrank, whacking workers with the double whammy—less money, higher prices. In response, the government cut interest rates, lengthened unemployment benefits, and accelerated government construction projects. Within a year, the U.S. economy recovered.
Crypto is Easy - Issue #7
Crypto is Easy - Issue #7
Crypto is Easy - Issue #7
From 1957 to 1958, the United States suffered a recession on the heels of a pandemic flu outbreak. Unemployment hit its highest level in decades. Prices rose as the economy shrank, whacking workers with the double whammy—less money, higher prices. In response, the government cut interest rates, lengthened unemployment benefits, and accelerated government construction projects. Within a year, the U.S. economy recovered.