What is 1973–1975 recession?
'''The 1973–1975 recession''' or '''1970s recession''' was a period of [[economic stagnation]] in much of the [[Western world]] during the 1970s. It was different from many previous recessions by being a [[stagflation]], where high [[unemployment]] and high [[inflation]] existed at the same time. Among the causes were the [[1973 oil crisis]] and the fall of the [[Bretton Woods system]] after the [[Nixon Shock]]. The recession in the United States lasted from November 1973 (the [[Richard Nixon]] presidency) to March 1975 (the [[Gerald Ford]] presidency),<ref name=NBER>{{cite web|access-date=1 October 2008 |url=http://www.nber.org/cycles.html/ |title=NBER Business Cycle Expansions and Contractions |publisher=NBER |archive-url=https://www.webcitation.org/5QOwh5ffT?url=http://www.nber.org/cycles.html/ |archive-date=17 July 2007 |url-status=dead |df=dmy }}</ref> and its effects on the US were felt through the [[Jimmy Carter]] presidency until the mid-term of [[Ronald Reagan]]'s first term as president. ==References== {{reflist}} {{DEFAULTSORT:1973-1975 recession}} [[Category:1973]] [[Category:1974 in the United States]] [[Category:1975 in North America]] {{Multistub|US|history}}