The year 1988 appears to be an uneventful year. The country was recovering from the shock of the stock market crash 1987, and things had begun to calm down. The unemployment rate averaged 6.2% in 1987, and from there, began a steady month-to-month decline with averages of 5.5% and 5.3% in the years 1988 and 1989 respectively. There was a slowing of the real GDP growth rates over the same three-year period. GDP grew at a declining rate of 4.7% in 1987, 3.6% in 1988, and 2.6% in 1989. Inflation was very low during this time period. The real value of money was only reduced by .4% in 1987, .9% in 1988, and .9% in 1989. This in one of the lowest inflation rates between the years 1946 to 2001, according to the data set that I examined. There were no meaningful or lasting fiscal or monetary policy changes in 1988. Neither were there any changes in business cycles, the closest being a trough in 1982 Q4 and a peak in 1990 Q3. The year of 1988 was a very uneventful year.