Presidential Economic Policies

Alexander Hamilton, the first Secretary of the Treasury, proposed the creation of a national bank in his "Report on Public Credit" in 1790.

The Smoot-Hawley Tariff Act was passed in an attempt to protect American businesses from foreign competition during the Great Depression.

Franklin D. Roosevelt signed the Social Security Act into law in 1935 as part of his New Deal program.

The Marshall Plan provided economic assistance to Western European countries to help them rebuild after World War II.

Lyndon B. Johnson initiated the "War on Poverty" in 1964 with the goal of eliminating poverty in the United States.

Bill Clinton signed NAFTA into law in 1993, creating a free trade zone between the United States, Canada, and Mexico.

The Great Recession was primarily caused by the subprime mortgage crisis, which led to a collapse in the housing market and a financial crisis.

Barack Obama signed the American Recovery and Reinvestment Act of 2009, also known as the stimulus package, in an effort to stimulate the economy during the Great Recession.

Donald Trump signed the Tax Cuts and Jobs Act of 2017, which reduced taxes for businesses and individuals.

Joe Biden introduced the Build Back Better Act as part of his economic recovery plan, but it was not passed by Congress.

The Federal Reserve's primary economic function is to set interest rates, which affects the cost of borrowing money and can influence economic growth.

The Consumer Price Index (CPI) measures the average change in prices over time for a basket of goods and services purchased by consumers, providing an indication of inflation.

The Gross Domestic Product (GDP) measures the total value of all goods and services produced within a country's borders in a given period of time.

The unemployment rate is calculated by dividing the number of unemployed people by the total labor force, which includes both employed and unemployed people.

The stock market is a market where stocks, which represent ownership in companies, are bought and sold.