Recessions and depressions

FILE - In this April 1, 2020 photo, a "For Sale" sign stands in front of a home that is in the process of being sold in Monroe, Wash., outside of Seattle. Americans stepped up their home purchases in June, clawing back some of the losses after the pandemic had caused sales to crater in the prior three months. (AP Photo/Elaine Thompson, File)
1010 WINS Newsroom
July 22, 2020 - 10:27 am
BALTIMORE (AP) — Americans stepped up their home purchases in June by a robust 20.7% after the pandemic had caused sales to crater in the prior three months. But the housing market could struggle to rebound further in the face of the resurgent viral outbreak and a shrinking supply of homes for sale...
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European Parliament President David Sassoli talks during a news conference following the recovery financial plan deal at the EU leaders summit, at the European Parliament in Brussels, Wednesday, July 22, 2020. After four days and nights of wrangling, exhausted European Union leaders finally clinched a deal on an unprecedented 1.8 trillion-euro (dollars 2.1 trillion) budget and coronavirus recovery fund early Tuesday, after one of their longest summits ever. (Francois Lenoir, Pool Photo via AP)
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July 22, 2020 - 8:24 am
BRUSSELS (AP) — The European Parliament's president criticized Wednesday the cuts to key programs that the EU's 27 leaders approved in the bloc's long-term budget at a marathon summit this week. The seven-year budget worth 1.07 trillion ($1.2 trillion) was negotiated in tandem with a 750 billion-...
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FILE - In this Feb. 13, 2020 file photo, President Donald Trump's nominee to the Federal Reserve, Judy Shelton, appears before the Senate Banking Committee for a confirmation hearing, on Capitol Hill in Washington. In a shift, the Senate Banking Committee is likely to back President Donald Trump's unconventional nomination of Shelton for the Federal Reserve's Board of Governors in a party-line vote Tuesday, July 21. (AP Photo/J. Scott Applewhite, File)
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July 21, 2020 - 3:01 pm
WASHINGTON (AP) — The Senate Banking Committee on Tuesday approved President Donald Trump's choice of Judy Shelton for the Federal Reserve board of governors on a party-line vote, overcoming widespread questions about her qualifications for the Fed. Committee Chairman Sen. Mike Crapo, Republican of...
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German Chancellor Angela Merkel, left, and French President Emmanuel Macron walk onto the podium prior to a media conference at the end of an EU summit in Brussels, Tuesday, July 21, 2020. Weary European Union leaders finally clinched an unprecedented budget and coronavirus recovery fund early Tuesday, finding unity after four days and as many nights of fighting and wrangling over money and power in one of their longest summits ever. (John Thys, Pool Photo via AP)
1010 WINS Newsroom
July 21, 2020 - 11:00 am
FRANKFURT, Germany (AP) — European leaders took a historic step towards sharing financial burdens among the EU's 27 countries by agreeing to borrow and spend together to pull the economy out of the deep recession caused by the virus outbreak. Pushed by Germany's Angela Merkel and France's Emmanuel...
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German Chancellor Angela Merkel, right, and French President Emmanuel Macron prepare to address a media conference at the end of an EU summit in Brussels, Tuesday, July 21, 2020. Weary European Union leaders finally clinched an unprecedented budget and coronavirus recovery fund early Tuesday, finding unity after four days and as many nights of fighting and wrangling over money and power in one of their longest summits ever. (John Thys, Pool Photo via AP)
1010 WINS Newsroom
July 21, 2020 - 6:22 am
BRUSSELS (AP) — After four days and nights of wrangling, exhausted European Union leaders finally clinched a deal on an unprecedented 1.8 trillion-euro ($2.1 trillion) budget and coronavirus recovery fund early Tuesday, after one of their longest summits ever. The 27 leaders grudgingly committed to...
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German Chancellor Angela Merkel, right, speaks with French President Emmanuel Macron, center, during a round table meeting at an EU summit in Brussels, Monday, July 20, 2020. Weary European Union leaders are expressing cautious optimism that a deal is in sight on their fourth day of wrangling over an unprecedented budget and coronavirus recovery fund. (John Thys, Pool Photo via AP)
1010 WINS Newsroom
July 20, 2020 - 11:37 pm
BRUSSELS (AP) — Weary European Union leaders finally clinched an unprecedented 1.82 trillion euro ($2.1 trillion) budget and coronavirus recovery fund early Tuesday, somehow finding unity after four days and as many nights of fighting and wrangling over money and power in one of their longest...
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German Chancellor Angela Merkel, left, and French President Emmanuel Macron arrive for a round table meeting at an EU summit in Brussels, Friday, July 17, 2020. Leaders from 27 European Union nations meet face-to-face on Friday for the first time since February, despite the dangers of the coronavirus pandemic, to assess an overall budget and recovery package spread over seven years estimated at some 1.75 trillion to 1.85 trillion euros. (Stephanie Lecocq, Pool Photo via AP)
1010 WINS Newsroom
July 17, 2020 - 6:00 pm
BRUSSELS (AP) — European Union leaders headed into Saturday, the scheduled final day of their summit, about as far apart from reaching a deal on an unprecedented 1.85 trillion euro ($2.1 trillion) EU budget and coronavirus recovery fund as the seating distance imposed upon them for health reasons...
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Henry Montalvo, 30, is shown Wednesday, July 15, 2020, in Phoenix. Montalvo was furloughed in March and his federal unemployment benefit expires later this month. (AP Photo/Matt York)
1010 WINS Newsroom
July 17, 2020 - 1:51 pm
WASHINGTON (AP) — A major source of income for roughly 30 million unemployed people is set to end, threatening their ability to meet rent and pay bills and potentially undercutting the fragile economic recovery. In March, Congress approved an extra $600 in weekly unemployment benefits as part of...
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European Commission President Ursula von der Leyen, left, greets Luxembourg's Prime Minister Xavier Bettel with an elbow bump during a round table meeting at an EU summit in Brussels, Friday, July 17, 2020. Leaders from 27 European Union nations meet face-to-face on Friday for the first time since February, despite the dangers of the coronavirus pandemic, to assess an overall budget and recovery package spread over seven years estimated at some 1.75 trillion to 1.85 trillion euros. (Stephanie Lecocq, Pool Photo via AP)
1010 WINS Newsroom
July 17, 2020 - 9:08 am
BRUSSELS (AP) — At the start of one of the most daunting and divisive summits in recent history, the atmosphere among the European Union leaders was downright giddy. Blame the coronavirus pandemic. With all kinds of masks, social distancing rules, and new ways of greetings, some of the leaders...
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FILE - In this Monday, Oct. 14, 2019 file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building, in Boston. Consumer banking giant Bank of America saw its profits drop by more than half in the second quarter, the bank reported Thursday, July 16, 2020, as the bank set aside billions of dollars to cover potentially bad loans caused by the pandemic. (AP Photo/Steven Senne, File)
1010 WINS Newsroom
July 16, 2020 - 9:56 am
NEW YORK (AP) — Bank of America's second quarter profits were sawed in half and the consumer banking giant set aside billions of dollars to cover potentially bad loans caused by the coronavirus pandemic. Earnings from the nation's biggest banks are painting a picture of American families and...
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