Recessions and depressions

July 29, 2018 - 10:01 pm
COLORADO SPRINGS, Colo. (AP) — Billionaire industrialist Charles Koch warned Sunday that Trump administration trade policies could trigger a recession. The conservative activist lashed out at the Republican president's brewing international trade war as hundreds of donors gathered for a private...
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President Donald Trump delivers remarks on the economy from the South Lawn of the White House, Friday, July 27, 2018, in Washington. (AP Photo/Jacquelyn Martin)
July 27, 2018 - 1:32 pm
WASHINGTON (AP) — The U.S. economy accelerated last quarter at an annual rate of 4.1 percent, the government estimated Friday, as consumers spent tax-cut money, businesses stepped up investment and exporters rushed to ship their goods ahead of retaliatory tariffs. President Donald Trump said he was...
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July 20, 2018 - 9:18 am
HARRISBURG, Pa. (AP) — Pennsylvania saw its unemployment rate drop for the second straight month, hitting a new post-recession low, as payrolls expanded slightly. The state Department of Labor and Industry said Friday that Pennsylvania's unemployment rate dropped two-tenths of a percentage point to...
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July 05, 2018 - 9:16 am
SAN JUAN, Puerto Rico (AP) — Puerto Rico's governor says he will sue a federal control board to resolve budget differences as the U.S. territory battles an 11-year recession. Ricardo Rossello said in a statement Thursday that he seeks an injunction to stop the board from imposing an $8.76 billion...
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June 29, 2018 - 11:40 am
SAN JUAN, Puerto Rico (AP) — New austerity measures are looming for storm-battered Puerto Rico after local legislators refused to alter labor laws as demanded by a federal control board that said changes would stimulate the U.S. territory's economy amid an 11-year recession. The board that is...
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FILE - In this May 11, 2018, file photo, Gov. Jerry Brown gestures toward a chart showing the increase in K-14 school funding, while discussing his revised 2018-19 state budget at a Capitol news conference in Sacramento, Calif. Brown is preparing to sign a $139 billion budget that marks a stark turnaround for a state he inherited in the throes of a financial crisis. Brown will sign a spending plan Wednesday, June 27, 2018, in Los Angeles that boosts state savings to $16 billion thanks to a massive budget surplus. The budget boosts funding for higher education, increases welfare grants and creates more slots for subsidized child care. (AP Photo/Rich Pedroncelli, File)
June 27, 2018 - 1:57 pm
SACRAMENTO, Calif. (AP) — Gov. Jerry Brown took a victory lap Wednesday after he signed a $139 billion California budget that marks a stark turnaround from the financial crisis he inherited almost eight years ago. Nearing the end of his second two-term stint as governor, Brown has celebrated the...
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FILE - In this Thursday, May 24, 2018 file photo, President of the European Central Bank Mario Draghi arrives for an eurogroup meeting at the Europa building in Brussels. The European Central Bank said Thursday, June 14 it will phase out at year-end the bond-buying stimulus program credited with helping the 19 countries that use the euro recover from the Great Recession and eurozone debt crisis. The bank's move toward the exit comes a day after the U.S. Federal Reserve decide to make its second interest rate increase this year and indicated more were coming. ECB President Mario Draghi says the bank's policy of easy money has helped create millions of new jobs, with unemployment falling from over 12 percent during the crisis to 8.5 percent. (AP Photo/Geert Vanden Wijngaert, file)
June 14, 2018 - 2:11 pm
RIGA, Latvia (AP) — Two of the globe's most powerful central banks are gradually withdrawing the easy money policies that helped repair the damage wrought by the Great Recession and push stock markets to record highs. It's a sign of confidence in the economy, but with uncertain consequences for...
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FILE - In this Thursday, Jan. 1, 2015 file photo, euro coins and banknotes are shown by a salesclerk at a shop in Vilnius, Lithuania. Italy's economy minister says the new populist government isn't discussing any proposal to leave the eurozone. Minister Giovanni Tria, in an interview Sunday, June 10, 2018 in Corriere della Sera newspaper, said "not only do we not want to exit" the 19-member shared currency union, but the coalition is determined to act so conditions don't occur to "put our presence in the euro(zone) up for discussion." (AP Photo/Mindaugas Kulbis, File)
June 14, 2018 - 9:59 am
RIGA, Latvia (AP) — The Latest on the European Central Bank's monetary policy meeting (all times local): 4:30 p.m. In response to a question about populist politicians' claim that the euro is not good for some countries, the head of the European Central Bank says the shared currency is irreversible...
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FILE - In this Nov. 19, 2016, file photo, then-President-elect Donald Trump and Mitt Romney shake hands as Romney leaves Trump National Golf Club Bedminster in Bedminster, N.J. (AP Photo/Carolyn Kaster, file)
June 10, 2018 - 5:26 pm
PARK CITY, Utah (AP) — On the edge of a mountaintop in Utah, it's getting complicated for Mitt Romney. With the sun setting over his shoulder, the former Republican presidential nominee and would-be senator tells his audience, gathered on the patio of a resort, that President Donald Trump will win...
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German finance minister Olaf Scholz speaks during a party meeting of Hamburg's Social Democrats in Hamburg, Germany, Saturday, June 9, 2018. (Markus Scholz/dpa via AP)
June 09, 2018 - 9:39 am
FRANKFURT, Germany (AP) — Germany's finance minister is urging bolder steps to strengthen the 19-country euro currency union by setting up a fund to help member states suddenly hit with high unemployment, and by laying the foundations for a European Union-wide tax system. Finance Minister Olaf...
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