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The deep, protracted downturn in 2007-09 was followed by an unusually slow recovery

This period of relative macroeconomic stability lasted from the mid-1980s to 2007

The defining macroeconomic period of the second half of the 20th century lasted from 1965 to 1982

The Fed used its newly gained independence to create a new kind of monetary regime

The Fed pegged interest rates at a low level during WWII and enforced the peg after the war ended

The worst downturn in U.S. history lasted from 1929 to 1941

The Fed came into its own in the two decades following the signing of the Federal Reserve Act in 1913