early 1990s recession in the United States

E673053

economic downturn economic recession

The early 1990s recession in the United States was a period of economic downturn marked by rising unemployment, sluggish growth, and significant political repercussions, including its central role in the 1992 presidential election.

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Statements (47)

Predicate	Object
instanceOf	economic downturn ⓘ economic recession ⓘ
affectedRegion	California NERFINISHED ⓘ New England NERFINISHED ⓘ
affectedSector	banking and financial services ⓘ commercial real estate ⓘ construction ⓘ manufacturing ⓘ
associatedSlogan	"It’s the economy, stupid" NERFINISHED ⓘ
cause	1990 oil price shock linked to the Gulf War crisis ⓘ Federal Reserve monetary tightening in the late 1980s ⓘ commercial real estate downturn in the late 1980s and early 1990s ⓘ corporate restructuring and downsizing ⓘ reduced consumer confidence ⓘ savings and loan crisis in the United States ⓘ
characteristic	credit crunch ⓘ decline in business investment ⓘ falling consumer spending in some sectors ⓘ regional disparities in economic impact ⓘ rising unemployment ⓘ sluggish GDP growth ⓘ weak job recovery ⓘ
country	United States of America ⓘ surface form: United States
economicContext	transition from 1980s expansion to 1990s technology-driven growth ⓘ
effect	business bankruptcies and restructurings ⓘ increased public concern about the economy ⓘ pressure for deficit reduction and budget reforms ⓘ rise in long-term unemployment ⓘ slow recovery in employment despite GDP growth ⓘ
endTime	March 1991 ⓘ
followedBy	1990s economic expansion in the United States ⓘ
GDPContraction	mild to moderate compared with earlier postwar recessions ⓘ
inflationTrend	declining inflation compared to the 1980s ⓘ
policyResponse	Federal Reserve interest rate cuts beginning in 1990 ⓘ fiscal measures under President George H. W. Bush ⓘ
politicalImpact	benefited the presidential campaign of Bill Clinton ⓘ contributed to low approval ratings for George H. W. Bush ⓘ major issue in the 1992 United States presidential election ⓘ
precededBy	early 1980s recession in the United States ⓘ
presidentDuringPeriod	George H. W. Bush NERFINISHED ⓘ
recoveryCharacterization	jobless recovery ⓘ
relatedEvent	Gulf War NERFINISHED ⓘ savings and loan crisis ⓘ
startTime	July 1990 ⓘ
timePeriod	early 1990s ⓘ
unemploymentRatePeak	approximately 7.8 percent ⓘ
unemploymentRatePeakDate	June 1992 ⓘ

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.

It's the economy, stupid → historicalPeriod → early 1990s recession in the United States ⓘ

subject surface form: "It's the economy, stupid"