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Published annually since 1972, the Historic Documents series has made primary source research easy by presenting excerpts from documents on the important events of each year for the United States and the World. Each volume pairs original background narratives with well over 100 documents to chronicle the major events of the year, from official reports and surveys to speeches from leaders and opinion makers, to court cases, legislation, testimony, and much more. Historic Documents is renowned for the well-written and informative background, history, and context it provides for each document. Each volume begins with an insightful essay that sets the year’s events in context, and each document or group of documents is preceded by a comprehensive introduction that provides background information on the event. Full-source ...

Fed Hikes Interest Rate; Treasury Secretary Remarks on Economy : December 19 and 23, 2018
Fed Hikes Interest Rate; Treasury Secretary Remarks on Economy
Heather Kerrigan

After strong growth for much of the year, the U.S. economy ended 2018 on a downswing, with the Dow Jones Industrial Average, NASDAQ, and S&P 500 tumbling to near ten-year lows. The decline was driven by a number of factors, including a decision by the Federal Reserve to raise its benchmark interest rate for the fourth time in a year, an ongoing trade war between the world’s two biggest economies—the United States and China—and slowing growth both domestically and globally. Seeking to calm the markets, Treasury Secretary Steven Mnuchin took the unusual step of contacting the ...

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