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Early 1990s recession in the United States : ウィキペディア英語版
Early 1990s recession in the United States

The United States entered recession in July 1990, which lasted 8 months through March 1991.〔(【引用サイトリンク】url=http://www.nber.org/March91.html )〕 Although the recession was mild relative to other post-war recessions,〔 it was characterized by a sluggish employment recovery, most commonly referred to as a jobless recovery. Unemployment continued to rise through June 1992, even though economic growth had returned the previous year.
Belated recovery from the 1990-1991 recession contributed to Bill Clinton's victory in the 1992 presidential election, during which Clinton successfully articulated slow economic growth against incumbent president George H. W. Bush.
==Background==

Throughout 1989 and 1990, the economy was weakening as a result of restrictive monetary policy enacted by the Federal Reserve. At the time, the stated policy of the Fed was to reduce inflation, a process which limited economic expansion. The Savings and Loans Crisis of 1989 put the financial well-being of millions of Americans at risk, requiring a bailout from the federal government to the tune of $200 billion. The S&L Crisis also put an end to the real estate bubble that had begun around 1984. Lending standards tightend and credit was harder to come by. Measurable changes in GDP growth began to emerge in the first quarter of 1990, however, overall growth remained positive. The immediate cause of the recession was a loss of consumer and business confidence as a result of the 1990 oil price shock, coupled with an already weak economy.〔

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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