A good writeup, but it should be remembered that Harding did not assume office until March, 1921. If the recovery from the 1920-21 depression was in progress as of August, 1921, some six months into Harding’s administration, I would have to question how much credit he is due.
The main point is, he helped along the recovery that was already beginning. He also didn't screw it up, causing a "double dip", and much deeper recession.
(Which is what we now call what we previously called "depressions", to distinguish them from the Great Depression, which is often referred to as merely, THE Depression. )