A History of the United States in Five Crashes: Stock Market Meltdowns That Defined a Nation

by Scott Nations

on a course of rate cuts as wild as the hikes they’d instituted at the end of 1919 and throughout 1920. The first cut, to 6.5 percent, came on May 5, 1921, followed quickly by another to 6 percent in June, then to 5.5 percent in July and to