The stock market crash of October 1987, known as Black Monday, created significant panic and erased substantial market value. To combat the persistent double-digit inflation of the late 1970s, Chairman Paul Volcker raised the federal funds rate to historic highs, reaching nearly 20% in 1981.
GDP Contraction Early 1980s Economic Review
1% Onset of recession 1981 -1. Heading into 1989, economic indicators began to flash warning signs that suggested the expansion phase might be coming to an end.
Late 1980s Concerns After the strong recovery of the mid-1980s, the economy entered a period of cooling. Global competition started to put pressure on American manufacturing industries.
GDP Contraction Early 1980s Economic Review
Many analysts point to 1987 as a critical year, although the definition of a "recession" that year is subject to debate. 7% Deep recession 1982 -2.
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