51Թ

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Great Recession

[ greyt ri-sesh-uhn ]

noun

  1. the period of economic contraction in the United States and other countries from December 2007 to June 2009 following the collapse of a housing bubble that precipitated a subprime mortgage crisis and subsequent systemwide turmoil in the investment banking sector.


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Example Sentences

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The gap between California and those two states has even widened since 2009, the end of the Great Recession.

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He positioned himself as best fit to lead the country through the present crisis, leaning on his experience as the former central banker for Canada during the Great Recession and for the UK at the Bank of England during Brexit.

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Financial therapy is a growing field that gained prominence after the calamity that was the Great Recession of 2008.

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She met Danny, who is Vietnamese American, when he decamped to Saigon during the Great Recession for a three-week vacation that turned into a three-year stay.

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What’s more, if you strip out the one-time emergency spending Congress did to respond to the Great Recession and COVID-19, tax cuts are responsible for 90% of the increase in the debt-to-GDP ratio.

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