Great Recession

[ greyt ri-sesh-uhn ]

noun

1. the period of economic contraction in the United States and other countries from December 2007 to June 2009 following the collapse of a housing bubble that precipitated a subprime mortgage crisis and subsequent systemwide turmoil in the investment banking sector.

Example Sentences

The nation’s most painful sacrifices were absorbed by his Democratic predecessors—in Obama’s case, that was the agonizingly slow recovery from the Great Recession that began under George W. Bush, and in Biden’s it was the pandemic-era round of inflation that struck every single country on the planet.

From Slate

"These readings are generally in line with those since the Great Recession," read the Gallup analysis.

From Salon

Out of the Great Recession came two very different expressions of anti-establishment politics.

From Salon

It puts the United States at an inflection point echoing some of the most destabilizing developments of the 21st century — nine-eleven, the Great Recession, Trump’s 2016 victory, the pandemic, January 6.

From Salon

The company, which started buying thousands of homes in the wake of the Great Recession, has reached multiple settlements this year.

From Los Angeles Times