Ronald Reagan served as the 40th president of the United States from January 20, 1981, to January 20, 1989. He was inaugurated on January 20, 1981, and served two full terms, leaving office on January 20, 1989. Reagan was a Republican and won the presidency with a landslide victory in the 1980 election, defeating incumbent Jimmy Carter. He was re-elected in 1984 by defeating Walter Mondale in another landslide. His presidency is noted for conservative economic policies known as "Reaganomics," increased defense spending, and significant foreign policy actions during the Cold War era.