American Decades

Important Events in Business and the Economy, 1920–1929

Agricultural economists expect U.S. food prices to fall 72 percent. European farmers resume production after World War I, leaving U.S. farmers little opportunity to export surplus to Europe.
In January, 10 percent of U.S. women worked outside the home.
From January to May, the Federal Reserve Board raised interest rates from 4 to 7 percent to contract the money supply and thus counteract the threat of inflation.
On January 2, U.S. Attorney General A. Mitchell Palmer accuses the Industrial Workers of the World (IWW) of plotting to strike the railroads.
On January 5, the Radio Corporation of America is founded with $20 million capital.
On January 16, Prohibition begins; America goes dry.
On February 28, Congress passes the Esch-Cummins Act, restoring railroads to private ownership and establishing the Railroad Labor Board.
On June 2, Congress passes the...

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