1935day.year
New Deal: Under the authority of the newly-enacted Federal Emergency Relief Administration, President Franklin D. Roosevelt issues Executive Order 7034 to create the Works Progress Administration.
President Franklin D. Roosevelt signs Executive Order 7034, creating the Works Progress Administration to combat unemployment during the Great Depression.
As part of his New Deal initiatives, President Franklin D. Roosevelt signed Executive Order 7034 on May 6, 1935, establishing the Works Progress Administration (WPA). The WPA became one of the largest and most ambitious federal relief programs in U.S. history. It provided jobs for millions of unemployed Americans, constructing roads, bridges, schools, and parks across the nation. The program also supported artistic projects, employing writers, musicians, actors, and artists to create public works of culture. By funding both infrastructure and the arts, the WPA helped sustain communities and fostered a sense of national recovery. The administration operated until 1943, leaving behind thousands of lasting public works and a legacy of federal involvement in social welfare.
1935
New Deal
Federal Emergency Relief Administration
Franklin D. Roosevelt
Works Progress Administration
1997day.year
The Bank of England is given independence from political control, the most significant change in the bank's 300-year history.
In 1997, the Bank of England gained independence from political control, marking a major shift in the institution's 300-year history.
For three centuries, the Bank of England had operated under directives from the UK government.
On May 6, 1997, newly elected Prime Minister Tony Blair’s government granted the Bank operational independence to set interest rates.
The move aimed to reduce political interference in monetary policy and curb inflation.
This reform was hailed by economists as a bold step towards modernizing the UK’s financial system.
Independence strengthened the Bank’s credibility and influenced similar reforms worldwide.
The decision remains a cornerstone in central banking history and economic governance.
1997
Bank of England
2002day.year
Founding of SpaceX.
Elon Musk founds SpaceX, embarking on a journey to revolutionize space exploration.
On May 6, 2002, entrepreneur Elon Musk established Space Exploration Technologies Corp., known as SpaceX, in Hawthorne, California.
His vision was to reduce space transportation costs and enable the colonization of Mars through reusable rockets.
SpaceX started with ambitious goals, including developing the Falcon 1 launch vehicle and Dragon spacecraft.
Despite early launch failures, the company persevered, achieving milestones like the first privately funded liquid-fueled rocket to reach orbit.
SpaceX has since transformed the aerospace industry with reusable boosters and commercial crew missions.
SpaceX
2010day.year
In just 36 minutes, the Dow Jones Industrial Average plunged nearly 1,000 points in what is known as the 2010 Flash Crash.
The Dow Jones plunges nearly 1,000 points in 36 minutes during the 2010 Flash Crash, rattling global markets.
On May 6, 2010, U.S. financial markets experienced a sudden and dramatic downturn known as the Flash Crash.
Within a span of just 36 minutes, the Dow Jones Industrial Average plunged almost 1,000 points, only to recover much of the loss shortly after.
High-frequency trading and automated algorithms were later cited as contributing factors in the unprecedented volatility.
The event prompted investigations by regulators and led to reforms aimed at improving market safeguards.
The 2010 Flash Crash remains a stark reminder of the risks posed by electronic trading systems.
2010
Dow Jones Industrial Average
2010 Flash Crash