-
1924
inflation - 2.98%
CCI - N/A
CPI - Food, 3.2 percent
Rent, 2.7 percent
Apparel, 3.2 percent
Fuel, electricity, and ice, 3.8 percent
Housefurnishings, 4.0 percent
Miscellaneous, 4.6 percent
GDP (in billions) - 86.947
GDP per Capita - 1.11%
Unemployment Rates - 5%
Interest Rate - 3.0 -
1924 event
On average, the stock market increased in value by 20 percent a year. It began rising in 1924. The number of shares traded doubled to 5 million per day. -
1925
Inflation - 1.17%
CCI - N/A
CPI - 17.3
GDP - 90.575 (in billions)
GDP per Capita - 0.78%
Unemployment Rates - 3.2%
Interest Rates - 3.50 -
1925 event
1925 - Top tax rate lowered to 25 percent. The corporate tax rate increased to 13 percent. Hoover warns Coolidge about stock market speculation. Most countries returned to the gold standard. More than 25 percent of families owned a car. In 1925, the Kelly Act authorized the Post Office to contract out airmail delivery. -
1926
Inflation - 3.47%
CCI - N/A
CPI - 17.9
GDP - 96.949 (in billions)
GDP per Capita - 5.09%
Unemployment Rates - 1.8%
Interest Rates - 4.0 -
1926 event
1926 - A mild recession began in October. The corporate tax rate increased to 13.5 percent. Robert Goddard invented the liquid propulsion rocket, creating a U.S. advantage in defense. More than 2 million farmers moved to the cities, but only 1 million city folk moved to the rural areas. In 1926, the Air Commerce Act authorized commercial airlines. From 1926 to 1929, the number of people flying in planes increased from 6,000 to 173,000 -
1927
Inflation - 2.23%
CCI - N/A
CPI - 17.5
GDP - 95.544 (in billions)
GDP per Capita - 0.39%
Unemployment Rates - 3.3%
Interest Rates - 4.0 -
1927 event
1927 - The recession ended in November after the Fed lowered the discount rate from 4 percent to 3.5 percent in September. Charles Lindbergh flew solo from New York to Paris on May 20-21. -
1928
Inflation - 1.14%
CCI - N/A
CPI - 17.3
GDP - 97.365 (in billions)
GDP per Capita - 0.10%
Interest Rates - 4.81 -
1928 event
1928 - Stock prices rose 39 percent. To stop speculation, the Fed raised the discount rate from 3.5 percent to 5 percent. It also sold securities to banks as part of its open market operations. That removed cash from their reserves. Other countries responded by raising rates, even though they were still rebuilding from World War I. At the same time, Coolidge lowered the corporate tax rate to 12 percent. -
1929
Inflation - 1.16%
CPI - 17.1
GDP - 103.6 (in billions)
GDP per Capita - 5.02%
Unemployment Rates - 3.2%
Interest Rates - 5.0 -
1929 event
1929 - Herbert Hoover became President. He lowered the top income tax rate to 24 percent, and the top corporate tax rate to 12 percent. The Great Depression began in August, as the economy started shrinking. In September, the stock market reached its peak. It crashed on October 24th. During those same months, the Graf Zeppelin completed the first round-the-world flight.