Predictions that the bubble would burst emerged during the dot-com bubble in the late 1990s. Predictions about a future burst increased following the October 27, 1997 mini-crash, in the wake of the 1997 Asian financial crisis. This caused an uncertain economic climate during the first few months of 1998. However conditions improved, and the Federal Reserve raised interest rates six times between June 1999 and May 2000 in an effort to cool the economy to achieve a soft landing. The burst of the stock market bubble occurred in the form of the NASDAQ crash in March 2000. Growth in gross domestic product slowed considerably in the third quarter of 2000 to the lowest rate since a contraction in the first quarter of 1992.