A Comprehensive Timeline of U.S. Economic History and Key Innovations: Early 20th Century: - 1907:The Panic of 1907 catalyzes the creation of the Federal Reserve in 1913, establishing it as a financial stabilizer. 1910s-1930s: - 1913:Niels Bohr and Ernest Rutherford make groundbreaking discoveries in atomic structure. - 1913-1930s:Federal Reserve operates with 40% gold-backed reserves, focuses on banking stabilization. - 1930s:Alan Turing's formative years, later contributing to WW2 efforts. Post-WWII Era: - 1944:Bretton Woods Conference sets the U.S. dollar as the global reserve currency, enhancing the Fed's international role. 1950s-1960s: - Economic expansion with low-interest rates under Presidents Truman and Eisenhower. - Kennedy and Johnson promote growth, with the Fed under Martin maintaining low rates amidst the Vietnam War. 1970s: - Stagflation hits, Nixon ends the gold standard in 1971, and Volcker takes bold steps to curb inflation by the decade's end. 1980s: - Reaganomics introduces tax cuts and deregulation. Greenspan continues Volcker's policies, later easing interest rates. 1990s: - Stable growth known as "The Long Boom" with Clinton's presidency coinciding with a strong economy. Early 2000s: - The dot-com bubble burst and 9/11 attacks mark the decade's start. The housing bubble grows under Greenspan and Bernanke. Late 2000s: - The 2008 financial crisis strikes, leading to Bernanke's unconventional Quantitative Easing tactics. 2010s: - A period of recovery ensues with continued low rates under Obama and Trump, and Fed Chairs Yellen and Powell. Up to 2022: - The COVID-19 pandemic triggers a global economic slump, with Biden's presidency and Powell's Fed responding with massive fiscal and monetary support. General Trends: - Mid-century sees the rise of globalization. - The late 20th century recovers U.S. economic credibility and begins the Third Industrial Revolution. - Parallels drawn between the 1920s/2000s (credit growth), 1929/2008 (financial crises), 1930s/2010s (economic stagnation), and 1940s/2020s (conflict and populism). This brief provides insights into the pivotal moments and figures shaping economic policies through the decades, reflecting the evolution of the U.S. economy and its response to various crises.