Recession of 1953 (jul 1, 1953 – may 1, 1954)
Description:
After a post-Korean War inflationary period, more funds were transferred to national security. In 1951, the Federal Reserve reasserted its independence from the U.S. Treasury and in 1952, the Federal Reserve changed monetary policy to be more restrictive because of fears of further inflation or of a bubble forming.Added to timeline:
Date:
jul 1, 1953
may 1, 1954
~ 10 months