The Forgotten Depression refers to the economic downturn that occurred in the United States from 1920 to 1921, following World War I. Unlike the Great Depression of the 1930s, this period is often overlooked despite its significant impact on the economy. It was marked by a sharp decline in industrial production, high unemployment rates, and deflation, as the country transitioned from wartime to peacetime. During this time, the U.S. government implemented austerity measures and reduced spending, which contributed to the economic contraction. The downturn ended relatively quickly, but its effects were felt by many Americans. This period serves as a reminder of the complexities of economic cycles and the importance of historical context in understanding financial crises.