Recessions and depressions

FILE - In this Saturday, May 16, 2020, file photo, Glen Buhlmann, lower left, fills out a job application during a walk- and drive-up job fair in Seattle for clothing maker Outdoor Research's new line of face masks and other personal protection equipment the company has started manufacturing due to the coronavirus pandemic. U.S. employers likely rehired several million more workers in June, thereby reducing a Depression-level unemployment rate, but the most up-to-date data suggests that a resurgent coronavirus will limit further gains. (AP Photo/Ted S. Warren, File)
Associated Press
July 02, 2020 - 8:34 am
WASHINGTON (AP) — U.S. employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month, yet still remained far short of regaining the colossal losses it suffered this spring. The nation has now recovered roughly...
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FILE - In this July 31, 2019 file photo, The Federal Reserve logo is shown before the start of a scheduled news conference by Chairman Jerome Powell when it ends its latest policy meeting in Washington. The Federal Reserve on Friday, June 12, 2020, promised to use its “full range of tools” to pull the country out of a deep recession caused by a global pandemic, signaling that it would keep interest rates low through 2022. (AP Photo/Manuel Balce Ceneta, File)
Associated Press
June 12, 2020 - 10:40 am
WASHINGTON (AP) — The Federal Reserve has promised to use its “full range of tools” to pull the country out of a deep recession caused by a global pandemic, signaling that it would keep interest rates low through 2022. In its semi-annual monetary policy report to Congress, the central bank said...
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Home Depot customers carry their purchases as they leave the store, Friday, April 3, 2020 during the coronavirus pandemic in New York. (AP Photo/Mark Lennihan)
Associated Press
April 03, 2020 - 6:15 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus. ____________ COSTS MOUNT: The pandemic will cost the global economy as much as $4.1...
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Senate Majority Leader Mitch McConnell of Ky. gives a thumbs up as he arrives on Capitol Hill, Wednesday, March 25, 2020, in Washington. (AP Photo/Andrew Harnik)
Associated Press
March 26, 2020 - 5:00 am
WASHINGTON (AP) — The Senate passed an unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic. The unanimous vote Wednesday came despite misgivings on both sides about whether it goes too far or not far...
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In this Aug. 9, 2019 photo, former Vice President and Democratic presidential candidate Joe Biden speaks at the Iowa Democratic Wing Ding at the Surf Ballroom, in Clear Lake, Iowa. As the U.S. economy flashes recession warning signs, Democratic presidential candidates are leveling pre-emptive blame on President Donald Trump. They argue that his aggressive and unpredictable tariff policies are to blame for gloomy economic forecasts. (AP Photo/John Locher)
Associated Press
August 23, 2019 - 2:41 am
PROLE, Iowa (AP) — Campaigning under the stifling August sun, Joe Biden assailed President Donald Trump's trade war with China, accusing him of squandering a strong economy and putting Americans' financial security at risk. But he was quick to add that he was not hoping for the worst. "I never wish...
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FILE - In this May 11, 2008 file photo, former President George H.W. Bush arrives on the South Lawn of White House in Washington. Bush died at the age of 94 on Friday, Nov. 30, 2018, about eight months after the death of his wife, Barbara Bush. (AP Photo/Lawrence Jackson, File)
December 01, 2018 - 9:32 am
HOUSTON (AP) — George H.W. Bush, a World War II hero whose presidency soared with the coalition victory over Iraq in Kuwait, but then plummeted in the throes of a weak economy that led voters to turn him out of office after a single term, has died. He was 94. Bush, who also presided during the...
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