Recessions and depressions

FILE - In this Aug. 14, 2019, file photo former Fed Chair Janet Yellen speaks with FOX Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. (AP Photo/Andrew Harnik, File)
November 23, 2020 - 11:01 pm
WASHINGTON (AP) — Janet Yellen is in line for another top economic policy job — just in time to confront yet another crisis. Yellen, President-elect Joe Biden's apparent choice for treasury secretary, served on the Federal Reserve's policymaking committee during the 2008-2009 financial crisis that...
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FILE - In this Dec. 10, 2019 file photo, Securities and Exchange Commission (SEC) Chairman Jay Clayton testifies to the Senate Committee on Banking, Housing, and Urban Affairs about oversight of the SEC, on Capitol Hill in Washington. Clayton, a former Wall Street lawyer who has headed the Securities and Exchange Commission as the financial markets’ top regulator during the Trump administration, is leaving the position at year’s end. Clayton’s term runs through mid-2021. (AP Photo/Jacquelyn Martin, File)
November 16, 2020 - 10:42 am
WASHINGTON (AP) — Jay Clayton, a former Wall Street lawyer who has headed the Securities and Exchange Commission as the financial markets’ top regulator during the Trump administration, is leaving the position at year’s end, the SEC announced Monday. Clayton’s term runs through mid-2021. It is...
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FILE - This Aug. 24, 2020 file photo shows Treasury Secretary Stephen Mnuchin at the White House in Washington. The U.S. is starting the 2021 budget year the way the old year ended, with soaring deficits. The Treasury Department reported Thursday, Nov. 12 that the federal government ran up a record October deficit of $284.1 billion, nearly double the red ink of a year ago. (AP Photo/J. Scott Applewhite, File)
November 12, 2020 - 5:03 pm
WASHINGTON (AP) — The U.S. is starting the 2021 budget year the way the old year ended, with soaring deficits. The Treasury Department reported Thursday that the federal government ran up a record October deficit of $284.1 billion, double the red ink of the same month a year ago, as revenues...
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Peru's President Martin Vizcarra waves to reporters during a press conference at the presidential palace in Lima, Peru, after lawmakers voted his impeachment on Monday, Nov. 9, 2020, (AP Photo/Martin Mejia)
November 09, 2020 - 10:14 pm
LIMA, Peru (AP) — Peruvian lawmakers voted overwhelmingly Monday night to remove President Martín Vizcarra from office, expressing anger over his handling of the coronavirus pandemic and citing alleged but unproven corruption allegations. The president announced he would not try to fight the ouster...
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FILE - In this Sept. 2, 2020 file photo, a customer wears a face mask as they carry their order past a now hiring sign at an eatery in Richardson, Texas. On Thursday, Nov. 5, the number of Americans seeking unemployment benefits fell slightly last week to 751,000, a still-historically high level that shows that many employers keep cutting jobs in the face of the accelerating pandemic. (AP Photo/LM Otero, File)
November 06, 2020 - 3:14 pm
WASHINGTON (AP) — Defying fears of another slowdown, U.S. businesses kept hiring at a solid pace in October, yet there are signs they remain cautious about the economy's future as the pandemic worsens. The Labor Department said Friday that employers added 638,000 jobs and the unemployment rate...
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Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)
November 05, 2020 - 1:41 pm
WASHINGTON (AP) — The Federal Reserve kept its benchmark interest rate at a record low near zero Thursday and signaled its readiness to do more if needed to support an economy under threat from a worsening coronavirus pandemic. The Fed announced no new actions after its latest policy meeting but...
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FILE - A "sold" sign is posted on a home in Westfield, Ind., Friday, Sept. 25, 2020. On Thursday, Nov. 5, U.S. long-term mortgage rates were flat to lower this week, as the key 30-year rate fell to a new all-time low for the 12th time this year. (AP Photo/Michael Conroy)
November 05, 2020 - 11:00 am
WASHINGTON (AP) — U.S. long-term mortgage rates were flat to lower this week, as the key 30-year rate fell to a new all-time low for the 12th time this year. The background of economic anxiety in the recession set off by the pandemic, which has depressed home loan rates through the year, was...
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Traffic and people pass over Westminster Bridge with a fog shrouded Houses of Parliament and the Elizabeth Tower, known as Big Ben, hidden behind, on the first day of Britain's second lockdown designed to save its health care system from being overwhelmed by people with coronavirus, in London, Thursday, Nov. 5, 2020. Britain joined large swathes of Europe in a coronavirus lockdown designed to save its health care system from being overwhelmed. Pubs, along with restaurants, hairdressers and shops selling non-essential items closed on Thursday until at least Dec. 2. (AP Photo/Matt Dunham)
November 05, 2020 - 7:11 am
LONDON (AP) — The British government and the Bank of England joined forces Thursday to provide further support to an economy that is set for a difficult winter following the imposition of new coronavirus lockdown measures. Hours after the central bank increased its monetary stimulus by a bigger...
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A drink vendor rides his bicycle reflected in a puddle in the main business district in Jakarta, Indonesia, Thursday, Nov. 5, 2020. Indonesia's economy entered its first recession since the Asian financial crisis more than two decades ago as the country struggles to curb the coronavirus pandemic under control. (AP Photo/Dita Alangkara)
November 05, 2020 - 3:50 am
JAKARTA, Indonesia (AP) — Indonesia’s economy has fallen into recession for the first time since the Asian financial crisis more than two decades ago as the country struggles to control the coronavirus pandemic. Statistics Indonesia, the central statistics agency, said Thursday that Southeast Asia’...
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FILE - In this April 18, 2020, file photo, tents line a sidewalk on Golden Gate Avenue in San Francisco. Moving to address income inequality on a local level, San Francisco voters passed several tax measures including one that would impose additional tax on companies whose CEOs earn far higher than their average workers. (AP Photo/Jeff Chiu, File)
November 04, 2020 - 6:06 pm
SAN FRANCISCO (AP) — In an effort to address economic disparity laid bare by the coronavirus pandemic, San Francisco voters overwhelmingly approved several tax measures targeting property owners and big businesses with CEOs paid far higher than their average workers. Under the new law, any company...
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