Great Recession recovery
E87657
The Great Recession recovery refers to the prolonged period of economic stabilization and gradual growth in the United States following the 2007–2009 financial crisis, marked by large-scale fiscal stimulus, monetary easing, and financial-sector reforms.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| Great Recession aftermath | 1 |
Statements (56)
| Predicate | Object |
|---|---|
| instanceOf |
economic recovery
ⓘ
macroeconomic phenomenon ⓘ |
| characterizedBy |
deleveraging of households and financial institutions
ⓘ
elevated long-term unemployment ⓘ gradual GDP growth ⓘ historically low interest rates ⓘ low inflation environment ⓘ prolonged economic stabilization ⓘ slow labor-market improvement ⓘ weak wage growth ⓘ |
| comparedTo | post–Great Depression recovery in the United States ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| economicIndicator |
declining unemployment rate after 2010
ⓘ
gradual housing market stabilization ⓘ narrowing credit spreads ⓘ recovery of corporate profits ⓘ return of real GDP to pre-crisis levels ⓘ stock market rebound ⓘ |
| endedBy | COVID-19 recession ⓘ |
| endTime | early 2020 ⓘ |
| follows |
2008 United States housing and financial crisis
ⓘ
surface form:
Great Recession
|
| hasCause |
2007–2009 financial crisis
ⓘ
U.S. housing market collapse ⓘ global financial crisis of 2007–2008 ⓘ |
| hasKeyPolicy |
American Recovery and Reinvestment Act of 2009
ⓘ
Dodd–Frank Wall Street Reform and Consumer Protection Act ⓘ Federal Reserve emergency lending programs ⓘ
surface form:
Federal Reserve quantitative easing programs
Home Affordable Modification Program ⓘ Troubled Asset Relief Program ⓘ auto industry rescue programs ⓘ extension of unemployment insurance benefits ⓘ temporary payroll tax cuts ⓘ zero lower bound interest rate policy ⓘ |
| hasPart | post-2009 U.S. economic expansion ⓘ |
| impact |
increase in public debt-to-GDP ratio in the United States
ⓘ
persistent labor-market scarring for some workers ⓘ reduction in financial-system systemic risk ⓘ rise in economic inequality debates in the United States ⓘ tightening of financial regulation ⓘ |
| mainImplementer |
Congress of the United States
NERFINISHED
ⓘ
Federal Reserve System ⓘ United States Department of the Treasury ⓘ
surface form:
U.S. Department of the Treasury
United States federal government NERFINISHED ⓘ financial regulatory agencies ⓘ |
| relativeSpeed | slower than typical postwar U.S. recoveries ⓘ |
| startTime | 2009 ⓘ |
| temporalContext | post-2008 global financial crisis period ⓘ |
| usesPolicyInstrument |
bank stress tests
ⓘ
capital injections into financial institutions ⓘ expanded deposit and debt guarantees ⓘ financial-sector reforms ⓘ fiscal stimulus ⓘ forward guidance ⓘ monetary easing ⓘ quantitative easing ⓘ unconventional monetary policy ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Great Recession aftermath