Former President Jimmy Carter, who passed away at the age of 100 on January 1, 2024, is being honored with a National Day of Mourning declared by President Joe Biden. This significant day will coincide with his state funeral scheduled for January 9, prompting major U.S. stock markets, including the New York Stock Exchange and Nasdaq, to close operations.
The NYSE Group President, Lynn Martin, commented on this decision, stating, "Jimmy Carter, with humble roots as a farmer and family man, devoted his life to public service and defending our freedom." This sentiment was echoed by Nasdaq President, Tal Cohen, who added, "We mourn the loss of President Carter and will be closing our U.S. markets during the National Day of Mourning to celebrate his life and honor his legacy." The U.S. flag at the NYSE is set to fly at half-staff throughout the mourning period.
Carter's legacy is steeped in significant historical accomplishments, most prominently the Camp David Accords, which were instrumental in establishing peace between Egypt and Israel. President Abdel Fattah al-Sisi of Egypt praised Carter, noting, "His significant role in achieving the peace agreement between Egypt and Israel will remain etched in the annals of history." This highlights Carter’s efforts to promote peace and diplomacy during his administration.
Carter served as the 39th president of the United States from 1977 until 1981. His presidency, though marked by economic struggles and the infamous Iran hostage crisis, saw notable achievements, including the promotion of human rights, diplomatic relations with China, and the establishment of two Cabinet departments—energy and education. After his presidency, Carter emerged as a respected humanitarian, earning the Nobel Peace Prize in 2002 for his continued work in peace and democracy worldwide.
During his presidency, Carter faced numerous challenges, including rampant inflation, high interest rates, and geopolitical conflicts. The Iran hostage crisis, which lasted from 1979 until the end of his term, had significant repercussions on his popularity and led to his defeat by Ronald Reagan in the 1980 election.
Despite initial support, public sentiment toward Carter waned due to the crisis strategies employed during his administration. Nevertheless, his efforts to broker peace and promote democracy have significantly contributed to his reputation as one of the most influential former presidents.
Upon his death, President Biden reflected on Carter's remarkable life, urging Americans to honor the former president by assembling at their places of worship on the National Day of Mourning. The former president passed away at his home, leaving behind a legacy of compassion and commitment to public service.
Carter's funeral and the memorial observances scheduled throughout the country will provide opportunities for the public to honor his extensive contributions. The Carter Center also announced public memorial services are set to take place in Atlanta and Washington, D.C. Following these observances, he will be interred privately in Plains, Georgia, where he lived most of his life.
Leading figures around the globe, along with former presidents, have shared tributes acknowledging Carter as not only the nation's former leader but also as a compassionate, moral leader who dedicated his post-presidency to humanitarian efforts and international peace. Despite facing political setbacks during his presidency, Carter became known for his dedication to humanitarian causes and environmental sustainability after leaving office, including efforts to combat poverty and promote agricultural development.
On January 9, the markets will remain closed for three days this month, overlapping with New Year’s Day and Martin Luther King Jr. Day, marking this pain and grief process for the nation. It is customary for stock markets to close during national mourning periods, reflecting respect for the passing of significant figures such as former presidents.
The intimate observances of Carter's death reflect not only the affection and respect he garnered throughout his career but also serve as reminders of the enduring impact his leadership had on both national and international stages. His combination of humility and vision significantly shaped the presidency and American relations within the global community.
Final arrangements for the state funeral are still being organized, but it is anticipated to be a reflective and well-attended event, recognizing not just the leadership he provided during his years as president but also the lasting contributions he made long after leaving the Oval Office.