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  1. July 26 – Cold War: President Truman signs the National Security Act of 1947 into law, creating the Central Intelligence Agency, the Department of Defense, the Joint Chiefs of Staff, and the National Security Council. August – Fernwood Park race riot in Chicago.

  2. By 1948, a new form of international tension had emerged--Cold War--between the United States and its allies and the Soviet Union and its allies. In the next 20 years, the Cold War spawned many tensions between the two superpowers abroad and fears of Communist subversion gripped domestic politics at home.

  3. U.S. Secretary of State George C. Marshall announces the “Marshall Plan”. The International Monetary Fund IMF begins to operate. The start of the Cold War which endured over four decades. The United Nations votes in favor of the creation of an Independent Jewish State of Israel.

  4. In 1947, President Harry S. Truman pledged that the United States would help any nation resist communism in order to prevent its spread. His policy of containment is known as the Truman Doctrine.

  5. This is supplementary to the Economic Report of the President of January 8, 1947, and is transmitted in accordance with section 3 (b) of the Employment Act of 1946. In preparing this report I have had the advice and assistance of the Council of Economic Advisers, members of the Cabinet, and heads of independent agencies. Respectfully, CONTENTS.

  6. the United States in relation to our actual and potential military power, in the interest of national security, for the purpose of making recommendations to the President in connection therewith; and (2) to consider policies on matters of common interest to the depart­ ments and agencies of the Government concerned with the national security,

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  8. philosopher Walter Lippmann called, in 1947, the “Cold War,” denot-ing the emerging confrontation between the United States and the Soviet Union.1 The term remained in use as a shorthand description of Soviet-American relations and an explanation of most of American foreign policy until 1989 or 1990. Culminating in the reunification of

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