ALBAWABA – Jimmy Carter, the American politician, humanitarian, and 39th president of the United States, who served from 1977 to 1981, passed away at the age of 100.
Jimmy Carter
Jimmy Carter was the 39th US president, serving from 1977 to 1981. He is known as the longest-living American president and gained recognition for his humanitarian efforts and business approach. Carter was also remarkable for establishing the Departments of Energy and Education.
However, Carter’s presidency was marked by high stagflation, with simultaneous slow growth, high unemployment, and rising prices. Although the US economy recovered from the 1973–75 recession, inflation remained a major concern for many Americans between 1977 and 1978.
However, Carter’s presidency was marked by high stagflation, with simultaneous slow growth, high unemployment, and rising prices. (Shutterstock)
During Carter’s tenure, the US economy reached a peak inflation rate of 14.8% in 1980. In response, Carter appointed Paul Volcker as Chairman of the Federal Reserve, the US central bank established by the Federal Reserve Act of 1913 to create a monetary system capable of responding effectively to stresses in the banking system.
Volcker, in turn, ended inflation by raising interest rates, which reached 20% at the time.
Unemployment during Carter’s tenure
Notably, the unemployment rate during Carter’s presidency ranged between 5.7% and 6%. However, it surged to 7.8% amid the recession.
When Carter left office in 1981, the unemployment rate had fallen to 7.4%, and inflation had notably decreased to nearly 10.3%.
Energy conservation
Carter was known for his speeches on energy conservation. During the energy shortage of 1977, he encouraged Americans to conserve energy.
In 1979, Carter installed 32 solar water heating panels on the White House’s West Wing, and his administration provided tax breaks for solar energy.