For the first time in US history, a decade will pass without the country falling into a recession
In every decade since the period immediately before the Civil War, the US economy could be relied on to do one thing: tumble into a recession.
The last one stretched from December 2007 until June 2009, unleashing 18 months of massive job losses and historic rates of home foreclosures. The severe downturn also triggered a global financial crisis that some experts say contributed to the rise of authoritarian and populist leaders around the world.
Dr. Ioana Marinescu, an assistant professor of economics at the University of Pennsylvania, says a big reason the US escaped a recession was the last nosedive was so bad that the economy only had room to grow throughout the decade.