The years 2007-2008 were marked by significant global economic challenges, primarily due to the subprime mortgage crisis in the United States. This crisis led to a sharp decline in housing prices and a rise in mortgage defaults, which ultimately triggered a financial meltdown affecting banks and financial institutions worldwide. In response to the crisis, governments and central banks implemented various measures to stabilize the economy. The U.S. Federal Reserve lowered interest rates, and the Emergency Economic Stabilization Act was passed in 2008 to provide financial assistance to struggling banks. These actions aimed to restore confidence in the financial system and promote economic recovery.