Recessions and depressions

FILE - This combination of Sept. 29, 2020, file photos shows President Donald Trump, left, and former Vice President Joe Biden during the first presidential debate at Case Western University and Cleveland Clinic, in Cleveland, Ohio. Amid the tumult of the 2020 presidential campaign, one dynamic has remained constant: The Nov. 3 election offers voters a choice between substantially different policy paths. (AP Photo/Patrick Semansky, File)
October 12, 2020 - 1:47 pm
WASHINGTON (AP) — Amid the tumult of the 2020 presidential campaign, one dynamic has remained constant: The Nov. 3 election offers voters a choice between substantially different policy paths. President Donald Trump, like many fellow Republicans, holds out tax reductions and regulatory cuts as...
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FILE - In this Monday, March 16, 2020 file photo, a German police officer checks authorization for a woman to enter Germany at the German-France border in Kehl, Germany. European Union countries are set to adopt a common traffic light system to coordinate traveling across the 27-nation bloc, but a return to a full freedom of movement in the midst of the COVID-19 pandemic remains far from reach. (AP Photo/Jean-Francois Badias, File)
October 12, 2020 - 7:44 am
BRUSSELS (AP) — European Union countries are getting ready to adopt a common traffic light system to coordinate traveling across the 27-nation bloc, but a return to a full freedom of movement in the midst of the COVID-19 pandemic remains far from reach. In addition to causing the deaths of at least...
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Democratic presidential candidate former Vice President Joe Biden speaks at Gettysburg National Military Park in Gettysburg, Pa., Tuesday, Oct. 6, 2020. (AP Photo/Andrew Harnik)
October 11, 2020 - 12:03 pm
GETTYSBURG, Pa. (AP) — Presidential hopefuls tend to declare every upcoming election the most important one that voters have faced in their lifetime. Joe Biden goes bigger. The Democratic nominee portrays 2020 as an entanglement of social, economic, political, environmental and public health crises...
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A family takes group portrait, Thursday, Oct. 8, 2020, outside of the White House in Washington. (AP Photo/Jacquelyn Martin)
October 08, 2020 - 3:27 pm
WASHINGTON (AP) — New, eye-popping federal budget figures released Thursday show an enormous $3.1 trillion deficit in the just-completed fiscal year, a record swelled by coronavirus relief spending that pushed the tally of red ink to three times that of last year. The Congressional Budget Office...
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A for sale sign stands in front of a house, Tuesday, Oct. 6, 2020, in Westwood, Mass. U.S. long-term mortgage rates changed little this week, flattening in recent weeks following a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. (AP Photo/Steven Senne)
October 08, 2020 - 10:49 am
WASHINGTON (AP) — U.S. long-term mortgage rates changed little this week, flattening in recent weeks following a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Home loan rates have remained at historically low levels. Mortgage buyer Freddie Mac...
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FILE - In this June 11, 2020, file photo, information signs are displayed at the closed Illinois Department of Employment Security WorkNet center in Arlington Heights, Ill. U.S. employers advertised for slightly fewer jobs in August while their hiring ticked up modestly. The Labor Department said Tuesday, Oct. 6, 2020, that the number of U.S. job postings on the last day of August dipped to 6.49 million, down from 6.70 million July. (AP Photo/Nam Y. Huh, File)
October 08, 2020 - 8:33 am
WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell slightly last week to a still-high 840,000, evidence that job cuts remain elevated seven months into the pandemic recession. The latest sign of a flagging recovery comes two days after President Donald Trump cut off talks...
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A woman walks past a personal finance loan office Thursday, Oct. 1, 2020, in Franklin, Tenn. U.S. consumers cut back on their borrowing in August, with credit card use dropping for a sixth straight month, reflecting caution in the midst of the pandemic-triggered recession. The Federal Reserve said Wednesday, Oct. 7, that total borrowing fell by $7.2 billion after a gain of $14.7 billion in July. (AP Photo/Mark Humphrey)
October 07, 2020 - 4:41 pm
WASHINGTON (AP) — U.S. consumers cut back on their borrowing in August, with credit card use dropping for a sixth straight month, reflecting caution in the midst of the pandemic-triggered recession. The Federal Reserve said Wednesday that total borrowing fell by $7.2 billion after a gain of $14.7...
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President Donald Trump waves from the Blue Room Balcony upon returning to the White House Monday, Oct. 5, 2020, in Washington, after leaving Walter Reed National Military Medical Center, in Bethesda, Md. Trump announced he tested positive for COVID-19 on Oct. 2. (AP Photo/Alex Brandon)
October 07, 2020 - 12:44 pm
WASHINGTON (AP) — President Donald Trump on Wednesday tried to salvage a few priority items lost in the rubble of COVID-19 relief talks that he had himself blown up, pressing for $1,200 stimulus checks and a new wave of aid for airlines and other businesses hard hit by the pandemic. But it was not...
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People pass by a poster thanking medical workers at a bus station in Madrid, Spain, Wednesday, Oct. 7, 2020. About 5.2 million people in Spain, including nearly 4.8 million residents in or around Madrid, are under restrictions on movement due to the second wave of the coronavirus pandemic. (AP Photo/Paul White)
October 07, 2020 - 6:52 am
LISBON, Portugal (AP) — Spain’s prime minister unveiled a major plan Wednesday to boost his country out of recession by spending 140 billion euros ($162 billion) of European Union aid to reshape the economy, with the aim of creating 800,000 jobs over the next three years. The program is a response...
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The White House is seen in Washington, early Tuesday, Oct. 6, 2020, the morning after President Donald Trump returned from the hospital where he was treated for COVID-19. Traffic moves along K Street NW as TV crews set up in Black Lives Matter Plaza. (AP Photo/J. Scott Applewhite)
October 06, 2020 - 9:51 pm
WASHINGTON (AP) — President Donald Trump on Tuesday called an abrupt end to negotiations with Democrats over additional COVID-19 relief, delaying action until after the election despite ominous warnings from his own Federal Reserve chairman about the deteriorating conditions in the economy. Trump...
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