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The Experimental Breeder Reactor No. 1 located at the National Reactor Testing Station near Arco, Idaho, produces the first electric power from a nuclear reactor.
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The Atomic Energy Commission detonates the first thermonuclear device, code-named "Mike," at Enewetak Atoll in the Pacific. The device explodes with a yield of 10.4 megatons.
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Dwight D. Eisenhower is inaugurated President.
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The Navy launches the first nuclear-powered submarine, U.S.S. Nautilus.
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More than 1,400 scientists from 73 nations attend the first United Nations-sponsored International Conference on the Peaceful Uses of Atomic Energy held in Geneva, Switzerland.
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Minimum wage of $1 per hour in effect.
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Commercial banks authorized to increase interest rate on savings accounts from 2-½ percent to 3 percent.
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Stock margin requirements cut from 70 percent to 50 percent.
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Discount rate raised from 2-½ percent to 3 percent.
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Discount rate lowered form 4 percent to 3-½ percent.
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UAW-GM strike.
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West Coast maritime strike.
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President Kennedy assassinated.
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UAW strike against GM.
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Discount rate raised from 4 percent to 4-½ percent.
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Increased social security taxes in effect.
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SST program given Presidential approval.
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Wage base for social security contributions raised form $6,600 to $7,800.
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Social security contribution rate increased to combined 9.6 percent.
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13-week extended duration unemployment benefits in effect.