1980-1985 Economy

By isaactrybus

  • S&L combined worth reaches -$18 billion

  • President Carter gives Federal Loan to Chrysler of $1.2 billion

  • Inflation rate reaches 13.9%

  • CCI reaches 98.5%

  • Consumer Price Index reaches 82.4%

  • GDP reaches $2.863 trillion

  • GDP per capita was 12,597.67

  • Unemployment rate was 6.3%

  • Interest rate was about 20%

  • The united states fell into a trough

  • The Fed discount rate was 12%

  • 8% marginal reserve requirement

  • Government effective tax rate was 9.9%

  • Reserve ratio was 20%

  • Government spending is equal to 22% of the nation's GDP

  • Unemployment was at 7.5%

  • Interest Rate was 20.2%

  • Inflation reaches 11.83%

  • Mortgage rate reaches 21%

  • Tax Reform Act of 1981

  • The First IBM-PC is released

  • Inflation rate was 11.83%

  • CCI hit 99.02

  • Consumer Price Index reaches 90.9

  • GDP was $3.211 trillion

  • GDP per capita was $13,993.17

  • Economy entered a state of expansion

  • Reagan introduces the deficits and taxes fiscal policy to cut taxes.

  • Fed discount rate was 13%

  • Reserve ratio was 18%

  • Government spending is equal to about 20% of the nation's GDP

  • Economic Recovery Tax Act slashes tax rates down to 50% in the 1980's

  • Reagan elected president

  • Space Shuttle Columbia is launched

  • Government spending is equal to about 21% of the nation's GDP

  • Recession of 1982

  • Inflation Rate reaches 8.39%

  • AT&T monopoly ordered to break up

  • CCI was 98.79

  • Consumer price index was 96.5

  • GDP was $3.345 trillion

  • GDP per capita was $14,438.98

  • Unemployment was at 8.6%

  • Interest rate hit about 15%

  • United States enters a period of retraction

  • Fed discount rate back down to 12%

  • Reserve Ratio back up to 20%

  • 48 FDIC-insured banks fail with $7 billion in assets.

  • Reagan-Volcker inflation policy put into action

  • Inflation hits 3.71%

  • CCI reaches 100.48

  • Consumer Price Index was 99.6

  • GDP hits $3.638 trillion

  • GDP per capita reaches $15,561.43

  • unemployment rates hit 10.4 %

  • Interest Rates were 8.6%

  • The economy enters a period of expansion

  • Fed discount rate drops to 8.5%

  • Reserve Ratio was 15%

  • Government spending is equal to about 23% of the nation's GDP

  • Reagan releases defense plan called Star Wars

  • The first commercial cell phone is made

  • Michael Jackson releases "Thriller"

  • Banking regulatory agencies set minimum capital requirement standards for individual institutions

  • Inflation rate was 4.19%

  • CCI was 101.02

  • Consumer Price Index reached 103.9

  • GDP was $4.041 trillion

  • GDP per capita was $17,134.29

  • Unemployment rate was 8%

  • Interest rate was 9.5%

  • The economy enters a state of retraction

  • Fed discount rate stays at 8.5%

  • Government spending is equal to about 23% of the nation's GDP

  • Reserve Ratio was 10%

  • Steve Jobs releases the first Macintosh computer

  • Inflation rate reaches 3.55%

  • Mortgage Rate reaches about 11.5% (15 year)

  • Inflation rate was 3.53%

  • CCI was 100.60

  • Consumer Price Index was 107.6

  • GDP was $4.347 trillion

  • GDP per capita was $18,269.42

  • Unemployment drops to 7.3%

  • Interest rate hits 7.3%

  • Economy falls into a trough

  • Fed discount rate down to 8%

  • Reserve Ratio was around 7.5%

  • Government spending is equal to about 25% of the nation's GDP

  • Microsoft introduces Windows