Recessions and depressions

Federal Reserve Chairman Jerome Powell speaks at the annual meeting of the National Association for Business Economics, Tuesday, Oct. 2, 2018, in Boston. (AP Photo/Elise Amendola)
October 02, 2018 - 2:49 pm
BOSTON (AP) — Federal Reserve Chairman Jerome Powell said Tuesday that he sees no need to drop the central bank's current gradual approach to raising interest rates. Powell said the combination of steady, low inflation and very low unemployment shows the country is going through "extraordinary...
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September 13, 2018 - 1:04 am
FRANKFURT, Germany (AP) — The European Central Bank is expected to ratchet back its stimulus efforts again on Thursday as it gingerly phases out extraordinary support for the economy left over from the Great Recession and the euro currency union's debt crisis. The bank's 25-member governing council...
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Greece's Prime Minister Alexis Tsipras, right, and Simos Anastasopoulos, President of the American-Hellenic Chamber of Commerce, center, listen to U.S. Commerce Secretary Wilbur Ross, during a visit at Thessaloniki International Trade Fair, at the northern Greek city of Thessaloniki, Saturday, Sept. 8, 2018. Thousands of police officers will be on duty in the northern city Saturday, as anti-austerity protests are planned throughout the city, at the same time when Tsipras plans to outline his economic platform for a country emerging from a decade of international bailout measures. (AP Photo/Giannis Papanikos)
September 08, 2018 - 8:00 am
THESSALONIKI, Greece (AP) — U.S. Commerce Secretary Wilbur Ross on Saturday inaugurated a trade fair in recession-weary Greece, where the government is pushing for overseas investment but faces mass protests after years of plummeting living standards. Ross joined Greece's left-wing Prime Minister...
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September 04, 2018 - 8:31 am
JOHANNESBURG (AP) — The South African economy has fallen into recession, compounding concerns about its weakening currency, plans for land reform and fallout from state corruption under former president Jacob Zuma. The Statistics South Africa group said Tuesday that the economy shrank by 0.7...
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In this June 19, 2018 photo, several ship to shore cranes stack shipping containers on-board the container ship Maersk Semarang while three Ever Green Line refrigerated containers wait to be loaded onto another ship at the Port of Savannah in Savannah, Ga. On Wednesday, Aug. 29, the Commerce Department issues the second of three estimates of how the U.S. economy performed in the April-June quarter. (AP Photo/Stephen B. Morton)
August 29, 2018 - 11:15 am
WASHINGTON (AP) — The U.S. economy grew at a strong 4.2 percent annual rate in the April-June quarter, the best showing in nearly four years, as growth stayed on track to produce its strongest full-year gain in more than a decade. Strength in business investment offset slightly slower consumer...
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Greece's eight-year bailouts started with an island and ended with an island. Papandreou, top, announced the financial rescue plan on the island of Kastellorizo, while Tsipras chose Ithaca to declare the end of the bailout era. TWO PHOTO COMBO: top image - dated Friday, April 23, 2010 Greek Prime Minister George Papandreou announces Greece's decision to request activation of a financial rescue plan, from the remote southeast Greek Aegean island of Kastellorizo. bottom photo - dated Tuesday, Aug. 21, 2018, released by Greek Prime Minister's office, Greek Prime Minister Alexis Tsipras speaks about an end to Greece's bailout travails from the legendary island home of Odysseus, the mythical Mycenaean king. (AP Photo/ top - Tatiana Bolari, bottom - Andrea Bonetti/Greek Prime Minister's Office via AP)
August 21, 2018 - 12:03 pm
ATHENS, Greece (AP) — Greece's eight-year bailout ordeal will forever be bookended by two of the country's iconic islands. In choosing the western island of Ithaca to declare the end of the bailout era Tuesday, Greek Prime Minister Alexis Tsipras harked back to one of the country's legendary heroes...
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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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