Recessions and depressions

1010 WINS Newsroom
May 18, 2020 - 2:38 am
MIAMI (AP) — Tropical Storm Arthur crawled closer to the North Carolina coast early Monday, amid threats of some minor flooding and rough seas as the system moves off the Southeast seaboard. Arthur formed Saturday in waters off Florida, marking the sixth straight year that a named storm has...
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FILE - In this March 1, 2020, file photo, a department store employee with a mask dresses a mannequin in Tokyo. Japan's economic growth plunged into recession in the first quarter as the coronavirus pandemic squelched production, exports and spending, and fears are growing worse times may lie ahead, according to a report on Monday, May 18, 2020. (AP Photo/Jae C. Hong, File)
1010 WINS Newsroom
May 17, 2020 - 11:23 pm
TOKYO (AP) — Japan's economic growth plunged into recession in the first quarter as the coronavirus pandemic squelched production, exports and spending, and fears are growing that worse times may lie ahead. The Cabinet Office reported Monday a 3.4% drop in the annual pace of seasonally adjusted...
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University of California at Berkeley graduate Tyler Lyson stands in front of Sather Gate on the closed Cal campus in Berkeley, Calif., on Monday, May 11, 2020. For the Class of 2020, the future looks grim. The pandemic has shattered the economy and the high hopes of graduates who, until recently, seemed all but assured of success. (AP Photo/Ben Margot)
1010 WINS Newsroom
May 17, 2020 - 11:07 pm
Tyler Lyson watched his parents’ financial collapse in the Great Recession, a decade ago. He vowed he’d find the security they never had: He would get a college degree. The 27-year-old won a full scholarship to the University of California-Berkeley and, on Monday, will become the first in his...
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FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve says it will keep buying bonds, Wednesday, June 10, to maintain low borrowing rates and support the U.S. economy in the midst of a recession. And it says nearly all the Fed’s policymakers foresee no rate hike through 2022. .(AP Photo/Jacquelyn Martin, File)
1010 WINS Newsroom
May 17, 2020 - 7:31 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell expressed optimism Sunday that the U.S. economy can begin to recover from a devastating recession in the second half of the year, assuming the coronavirus doesn't erupt in a second wave. But he suggested that a full recovery won't likely be...
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1010 WINS Newsroom
May 17, 2020 - 5:03 am
MIAMI (AP) — Tropical Storm Arthur formed off the coast of Florida on Saturday, making it the sixth straight year for a named storm to develop before the official June 1 start of the Atlantic hurricane season. The U.S. National Hurricane Center in Miami issued a tropical storm warning for North...
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House Speaker Nancy Pelosi of Calif., wears a mask as she steps away from the podium at the conclusion of a news conference on Capitol Hill, Thursday, May 14, 2020, in Washington. (AP Photo/Andrew Harnik)
1010 WINS Newsroom
May 16, 2020 - 12:15 am
WASHINGTON (AP) — The unparalleled speed of the collapse of the U.S. economy, forcing more than 36 million Americans out of work, has left an all-too-common political divide, with many Republicans seeing reasons to believe the worst is over while Democrats call for more aid to stave off a possible...
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House Speaker Nancy Pelosi of Calif., arrives for a news conference on Capitol Hill, Thursday, May 14, 2020, in Washington. (AP Photo/Andrew Harnik)
1010 WINS Newsroom
May 15, 2020 - 7:34 pm
WASHINGTON (AP) — Neither Civil War nor Great Depression nor any other national crisis has pushed the House to allow lawmakers to vote by proxy — without being “present,” as the Constitution requires. That's about to change during the coronavirus pandemic. The House approved Friday a package of...
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A currency trader talks near screens at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man)
1010 WINS Newsroom
May 15, 2020 - 4:48 pm
Stocks capped another wobbly day of trading on Wall Street with modest gains Friday, though the S&P 500 still ended with its biggest weekly loss in nearly two months. The benchmark index rose 0.4% after falling 1.3% earlier in the day as investors weighed more grim data showing how badly the...
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FILE - In this Sept. 18, 2017, file photo, two people sleep on a street in downtown Portland, Ore. Voters in metropolitan Portland will be asked Tuesday, May 19, 2020 to approve taxes on personal income and business profits that would raise $2.5 billion over a decade to fight homelessness even as Oregon grapples with the coronavirus pandemic and its worst recession in decades. (AP Photo/Ted S. Warren, File)
1010 WINS Newsroom
May 15, 2020 - 4:46 pm
PORTLAND, Ore. (AP) — Voters in metropolitan Portland, Oregon, will be asked Tuesday to approve taxes on personal income and business profits that would raise $2.5 billion over a decade to fight homelessness even as the state grapples with the coronavirus and its worst recession in years. The...
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FILE - In this Wednesday, April 15, 2020, file photo, an Illinois Department of Employment Security office is closed in Chicago. At least a half-dozen states, including Illinois, already have notified the federal government that they could need to borrow billions of dollars to pay unemployment benefits because their own trust funds are running out of money. Though the shortfalls won't prevent unemployed workers from getting government aid, the federal loans could lead to higher taxes for businesses in future years to repay the debt. (AP Photo/Nam Y. Huh, File)
1010 WINS Newsroom
May 15, 2020 - 11:07 am
WASHINGTON (AP) — U.S. layoffs soared in March to a record 11.4 million after state and local governments closed restaurants, bars, movie theaters and other nonessential businesses in response to the intensifying viral outbreak. The Labor Department also said Friday that job openings plunged, and...
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