Warren G. Harding, elected in 1920 and inaugurated in early 1921, had the most influence over the nation's economy and development in the early 1920s. In the aftermath of World War I, the American economy was faltering, and a recession was spreading throughout the country.
Harding was elected and enacted aggressive federal spending cuts and numerous tax reductions. Additionally, he encouraged private industry, especially the burgeoning technology sector, infusing much-needed funding into the new automotive industry and spreading the use of electricity nationwide. This influx of new industry and lower taxes massively impacted the overall economic climate, dropping unemployment to its lowest levels in quite some time and infusing wealth back into the Federal Reserve. His actions and strict conservative economic policies brought the country back from the brink of financial ruin and prevented a widespread economic recession from occurring.
Wednesday, September 26, 2012
What president was the most influential and helped the United States to prosper during the the years of 1920–1924?
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