By Jennifer and Jenna

Local Phone Call rates increase from 5 cents to 10 cents. On January 15 President Truman creates the largest peacetime budget in history, $71.6 billion earmarked so that he can meet the Korean emergency. On January 16 the Federal Reserve Board increases stock-purchase margin requirements  from 50 to 75 percent to discourage credit expansion. Immediately Price wars began and many department stores were robbed. U.S. reaches a record high in income tax receipts of $56.1 billion. On  July 31 Congress makes the Defense Production Act larger and it reduced anti-inflation powers. During the  Korean War inflation the U.S. food prices increase steeply. The United states suffers a shortage of beef  as customers that have money increase their demand. Population of people reaches 153 million in the United States.  In New York there are 12.3 million people.
 
• On February 4, Sugar Ray Robinson wins the world middleweight boxing title. He did this at Chicago beating Jake LaMotta.
• On February 27 The Twenty-second Amendment limited U.S. presidential terms to two.
• I Love Lucy was first shown on CBS on October 15. This show starred Lucille Ball.
• On November 15 the New Jersey Turnpike opened to speed up the traffic between New York and Philadelphia. 2 billion tolls will receive 118-miles in the first 25 years.
• CBS broadcasts color television programs on a commercial basis beginning on June 25.But conventional sets cannot pick up the signals in black and white. On September fourth, a new coaxial cable carries the first transcontinental U.S. television broadcast.
• 41 people died between July 2 and 19, 200,000 because of  very terrible flood. It was between Kansas and Missouri. These people are left homeless, and their property damage reaches up to $1 billion.
• Health needs and recommend solutions in U.S. are studied by President Truman.
• "Jersey Joe" wins the world heavyweight title July eighteenth. He knocked out Ezzard Charles in the seventh round of a championship bout at Pittsburgh.
• Richard Savitt won in men's singles at Wimbledon.
• Doris Hart won in women’s singles.
• The New York Yankees defeated the New York Giants in winning the World Series. They won this in 4 games to 2.
• General MacArthur is relieved of his posts by President Truman.
• The U.S. Atomic Energy Commission builds the first power-producing nuclear fission (atomic) reactor. Jean Paul Getty gains control of Skelly Oil and Tidewater Oil (now called Mission Corp.)
• Gerber Products starts using MSG (monosodium glutamate). They used this in the baby foods to make them taste better.
• Mickey Mantle joins the New York Yankees at center field. He played alongside Joe DiMaggio. Joe handles left field. Mickey Charles Mantle plays only 96 games. He sets league record of 111 strikeouts but shows he can hit the ball out of the park. He will remain a Yankee star for 17 years beginning next season. His batting average in his 10 peak years will always be above 300.

Emmy Awards
Outstanding Comedy: I Love Lucy
Outstanding Drama: Studio One

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The 1950's