-
1991
Inflation: 4.21%
CPI: 136.2
CCI: 99.3
GDP: $9.355
GDP per capita: 24,405.165
Unemployment Rate: 7.3%
Interest Rate- 9.00%
Monetary Policy- 5.50
Fiscal Policy- 20%
Business Cycle- Trough -
Gulf War
War in middle east against us and iraq -
1992
Inflation: 2.26%
CCI: 99.4
CPI: 140.3
GDP: 9.685
GDP per Capita: 25,492.952
Unemployment: 7.4%
Interest Rate- 7.50%
Monetary policy- 3.50
Fiscal Policy- 17%
Business Cycle- Recession -
General Motor shut down plant
Over 2,000 people lost their jobs making the unemployment rate go up -
1993
Inflation: 2.99%
CCI: 99.3
CPI: 144.5
GDP: 9.952
GDP per Capita: 26,464.853
Unemployment Rate: 6.5%
Interest Rate- 6.00%
Monetary policy- 3.00
Fiscal Policy- 15%
Business Cycle- Recession -
World Trade Center Bombed
Terrorist from iraq bombed the World Trade Center with a van -
1994
Inflation: 2.56
CCI: 99.1
CPI:148.2
GDP:10.352
GDP per capita: 27,776.636
Unemployment Rate: 5.5%
Interest Rate- 8.50%
Monetary policy- 4.25
Fiscal Policy- 16.5%
Business Cycle- Recession -
1995
Inflation: 2.99%
CCI: 100.7
CPI: 152.4
GDP: 2.7%
GDP per capita: $10,630
Unemployment Rate: 5.6%
Interest Rate- 8.75%
Monetary policy- 5.75
Fiscal Policy- 16%
Business Cycle- Peak -
1996
Inflation: 2.71%
CCI: 100.4
CPI: 156.9
GDP: 3.8%
GDP per capita: 11,031
Unemployment Rate: 5.4
Interest Rate- 8.25%
Monetary policy- 5.25
Fiscal Policy- 17.5%
Business Cycle- Peak -
AT&T plans on eliminating jobs
AT&T wanted to eliminate more than 40,000 jobs creating unemployment rates to go up and cause less consumer spending -
1997
Inflation: 2.29%
CCI: 100.5
CPI: 160.5
GDP: 4.4%
GDP per capita: $11,522
Unemployment Rate: 4.7%
Interest Rate- 8.50%
Monetary policy- 5.50
Fiscal Policy- 18%
Business Cycle- Recession -
Flood of 1997
In Minnesota and North Dakota there was a huge flood in the Red River Valley causing many people to evacuate their homes. Many families lost their homes -
1998
Inflation Rate: 1.6%
CCI: 101.12-101.11
CPI: 163.0
GDP (in trillions): $12.038
GDP per capita: $33,000
Unemployment Rate: 4.5%
Real Interest Rate: 7.191%
Business Cycle: expansion
Monetary Policy (Federal Funds Rate): 4.07%
Fiscal Policies (percent of GDP): 18% -
1999
Inflation Rate: 2.2%
CCI: 101.28-101.71
CPI: 166.6
GDP (in trillions): $12.611
GDP per capita: $34,500
Unemployment Rate: 4.2%
Real Interest Rate: 6.366%
Business Cycle: peak
Monetary Policy (Federal Funds Rate): 3.99%
Fiscal Policies (percent of GDP): 17% -
2000
Inflation Rate: 3.4%
CCI: 101.83-101.12
CPI: 172.2
GDP (in trillions): $13.131
GDP per capita: $36,500
Unemployment Rate: 4%
Real Interest Rate: 6.803%
Business Cycle: recession
Monetary Policy (Federal Funds Rate): 6.44%
Fiscal Policies (percent of GDP): 17% -
2001
Inflation Rates: 2.8%
CCI: 100.91-100.19
CPI: 177.1
GDP (in trillions): $13.262
GDP per capita: $37,000
Unemployment Rate: 4.7%
Real Interest Rate: 4.539%
Business Cycle: trough
Monetary Policy (Federal Funds Rate): 1.54%
Fiscal Policies (percent of GDP): 17% -
9/11 Terrorist Attacks
These four, scheduled terrorist attacks caused only the third time in history the New York Stock Exchange had ever been shut down for a period of time. It was closed from September 10-17. It is estimated that there was over $60 billion in insurance losses, and around 18,000 small businesses were either destroyed or displaced in Manhattan after the Twin Towers fell. -
2002
Inflation Rates: 1.6%
CCI: 100.37-99.77
CPI: 179.9
GDP (in trillions): $13.493
GDP per capita: $38,000
Unemployment Rate: 5.8%
Real Interest Rate: 3.092%
Business Cycle: expansion
Monetary Policy (Federal Funds Rate): 1.20%
Fiscal Policies (percent of GDP): 17% -
Stock Market Crash
After the stock market began to recover after 9/11, it began to sink again in March 2002. By July and September of 2002, the market reached lows that hadn’t been seen since 1997-1998. Enron’s corporate fraud scandal and the financial loss of 9/11 both contributed to this crash. -
2003
Inflation Rate: 2.3%
CCI: 99.60-100.48
CPI: 184.0
GDP (in trillions): $13.879
GDP per capita: $39,500
Unemployment Rate: 6%
Real Interest Rate: 2.087%
Business Cycle: expansion
Monetary Policy (Federal Funds Rate): 1.01%
Fiscal Policies (percent of GDP): 17% -
2004
Inflation Rate: 2.7%
CCI: 100.61-100.64
CPI: 188.9
GDP (in trillions): $14.406
GDP per capita: $42,000
Unemployment Rate: 5.5%
Real Interest Rate: 1.548%
Business Cycle: trough
Monetary Policy (Federal Funds Rate): 1.97%
Fiscal Policies (percent of GDP): 16% -
2005
CPI was around 105, unemployment rate was 6.8, GDP was 1,164.4, GDP per capita was 47, 181.96, inflation was just under 2% and this had impact from the event of Trafalger 200 because of a Naval battle that needed the countries help. -
Hurricanes Katrina and Rita
Hurricane Katrina hit the Gulf Coast of the US on August 25, 2005 and soon became the worst natural disaster in US history. Hurricane Rita followed behind Katrina. These two hurricanes caused $200 billion in damage, and cost the South 400,000 jobs and 275,000 homes. Hundreds of thousands of people were displaced, over 1,000 were killed, and more are missing. Because of these disasters, the effect on oil and gasoline prices was long-lasting. -
2006
Consumer Confidence was very low during this time, GDP was 1.315 trillion. Unemployment rate has gradually gone up after this time. In this time AOL agrees to 25 million dollar payroll raise to settle claims among online shopping. -
2007
Purchasing power in 2007 decreased by 2.38%, GDP was about the same as 2006. Many big american movies came out in 2007 so that brought lots of revenue to entertainment industry which essentially got the economy going. -
The Global Recession and the Collapse of Wall Street
In 2008, numerous factors participated into creating the largest economic downturn across the world, since the Great Depression. The investment banks on Wall Street started collapsing as there was a sub-prime mortgage crisis and corporate fraud. In late 2008, the federal government stepped in to save some of these institutions in order to keep the US financial system alive. -
2008
The Fed nationalized the American national group. This affected the US because they bought shares and all the money allocated in this event was towards pensions, retirement accounts, and Fed increased bailout. Employment rate was on the rise during this time and GDP was 14.72 trillion. -
Sub-Prime Housing Crisis
In the early 2000's, just about anyone who wanted to buy a home was able to. An idea called sub-prime lending arose, which means that families that were once not able to qualify for mortgage were able to get adjustable-rate mortgages with low interest rates. But, banks made loans to these families for houses with inflated values. When interest rates rose and adjustable rate loans became more expensive, they couldn't make their mortgage payments. Banks were holding loans there were worthless. -
2009
GDP was 14.42 trillion. The US automobile company General Motors declared bankrupt and the federal government taking a big part in its capital. -
Period: to
2012-2017
The GDP per capita rose from 49498.4 to 53128.54 from 2012-2017, the unemployment rate in the United States has gradually decreased, the Fed Funds Rate has increased from .25 to 1, the Federal Funds Rate raised from .07% to 1.33%, and the government's federal spending has increased from 3.5 to 4 Trillion from 2012-2017. Overall, the economy was constantly improving from 2012-2017. -
Obamacare
Obamacare goes into effect in 2014. It works by mandating that everyone get health insurance or pay a tax. -
Flint Michigan Water
The drinking water in Flint Michigan was contaminated with led. Because of this, the government had to send money into the city to help them clean their city water supply. -
Trans-Pacific Partnership
February 2015 - After seven years of negotiations, the United States and 11 other countries finally reached agreement in October on the Trans-Pacific Partnership (TPP), the largest regional trade deal in history. This affects the economy because it would set trade rules that would govern roughly 40% of the global economy. -
Hurricane Harvey and Irma
Caused the government to spend money into the economy to help with the wreckage of the hurricances -
President Trump Signs Tax Cuts and Jobs Act
December 22, 2017 - President Trump signs the largest tax cut and changes in the tax code since 1986 with the Tax Cuts and Jobs Act, reducing rates and simplying the tax code.