Roosevelt's "Second Inaugural Address" was given on January 20, 1937, not in March as his first inaugural address was. The Twentieth Amendment to the U.S. Constitution had been ratified (approved) by the states so that a president-elect could take office in January rather than waiting until March.
The economy had shown signs of recovery from the Depression, but it suffered setbacks in fall 1937. Roosevelt, trying to keep the public's morale up, coined a new term to describe the latest downturn: "recession." He desperately wanted to avoid the word "depression." Thus the period of reduced economic activity was labeled the Recession of 1937. By the start of the twenty-first century, the term "depression" had never again been used to describe an economic downturn.
Roosevelt's "Second Inaugural Address" was given on January 20, 1937, not in March as his first inaugural address was. The Twentieth Amendment to the U.S. Constitution had been ratified (approved) by the states so that a president-elect could take office in January rather than waiting until March.The economy had shown signs of recovery from the Depression, but it suffered setbacks in fall 1937. Roosevelt, trying to keep the public's morale up, coined a new term to describe the latest downturn: "recession." He desperately wanted to avoid the word "depression." Thus the period of reduced economic activity was labeled the Recession of 1937. By the start of the twenty-first century, the term "depression" had never again been used to describe an economic downturn.
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