• The Great Recession refers to the economic downturn from 2007 to 2009 after the US housing bubble burst and the global financial crisis.

  • The Great Recession was the most severe economic recession in the United States since the Great Depression of the 1930s.
  • In response to the Great Recession, the federal authorities unleashed unprecedented fiscal, monetary, and regulatory policies that some, but not all, have credited for the subsequent recovery.