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Great Recession
[ greyt ri-sesh-uhn ]
noun
- the period of economic contraction in the United States and other countries from December 2007 to June 2009 following the collapse of a housing bubble that precipitated a subprime mortgage crisis and subsequent systemwide turmoil in the investment banking sector.
Example Sentences
She met Danny, who is Vietnamese American, when he decamped to Saigon during the Great Recession for a three-week vacation that turned into a three-year stay.
What’s more, if you strip out the one-time emergency spending Congress did to respond to the Great Recession and COVID-19, tax cuts are responsible for 90% of the increase in the debt-to-GDP ratio.
Then came the Great Recession in the late 2000s.
On average, the S&P 500 has returned roughly 10% per year over the long term, even accounting for events like the Great Recession.
The agency was created after the Great Recession to patch a regulatory hole in how the federal government policed financial institutions.
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