Read the Express-News letters to the editor for March 24.
Occurrence of events happening in the 1920s and 1970s had great influences on what happened in each following generation. The 1920s had two recessions prior to the bank run in 1929, which ushered in the Great Depression. President Herbert Hoover was in office seven months prior to the bank run.
Reagan did have a rugged first few years, just as President Barack Obama did. Reagan’s average inflation rate was about the same rate as today, while his Federal Fund Rate was approximately two points higher. As far as the unemployment rate goes, both Reagan’s and Obama’s unemployment rates are very close to the same rate.
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