The lowered interest rates and increased income from employment enabled a large new
group of Americans to purchase homes, creating more demand for construction materials,
consumer durables, and financial services.3 The trickle-down effects from the growth in these
industries led to similar prosperity in almost all sectors of the economy. For example, the
relatively cheap dollar exported economic growth globally and attracted visitors to the United
States, which in turn spurred growth in the leisure, entertainment, hospitality, and retail
industries.4