View source for The Great Recession

{{Short description|Global economic downturn from 2007 to 2009}}

The '''Great Recession''' was a severe global economic downturn that began in the United States in late 2007 and lasted until 2009. It is widely regarded as the most significant economic crisis since the [[Great Depression]].

== Causes ==
The Great Recession was caused by a combination of factors, including:
* The collapse of the U.S. housing market
* Widespread use of high-risk subprime mortgage lending
* Excessive leverage in financial institutions
* Weak financial regulation

The crisis intensified following the collapse of Lehman Brothers in September 2008.

== Economic impact ==
The recession resulted in widespread job losses, sharp declines in household wealth, and a global contraction in trade. In the United States, the unemployment rate peaked at approximately 10 percent in 2009.

== Government response ==
The U.S. government responded with large-scale interventions, including:
* The Troubled Asset Relief Program (TARP)
* Economic stimulus legislation
* Emergency lending programs by the [[Federal Reserve System]]

These actions aimed to stabilize financial markets and prevent a deeper economic collapse.

== Long-term effects ==
The Great Recession influenced financial regulation, economic policy, and public attitudes toward inequality and government intervention. Its effects continued to shape economic and political debates throughout the 2010s.

[[Category:Economic recessions]]
[[Category:Financial crises]]
[[Category:History of the United States (2000–present)]]