James E. "Jimmy" Carter was President of the United States from 1977 to 1981, succeeding Gerald Ford and preceding Ronald Reagan. He was a Democrat, a former Governor of Georgia and a peanut farmer. His presidency was characterized by conflict in the Middle East, rising oil prices, and economic stagnation. Carter's failed attempt to alleviate the Iran hostage crisis, for which he took full responsibility, greatly hurt his public image. His greatest achievement in office was the signing of the Camp David Accords between Israel and Egypt, in which Egypt recognized Israel's right to exist. He was defeated in his bid for reelection in 1980. Since then, he has served as an elder statesman.