Recessions and depressions

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 - 10:04 am
WASHINGTON (AP) — The Senate passed a mammoth $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic, an unprecedented response amid record new jobless claims and mounting evidence that the economy is in a recession...
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a person working on a laptop
AP Photo/Elise Amendola, File
Associated Press
March 26, 2020 - 8:47 am
WASHINGTON (AP) — The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for some time as the country endures a sharp contraction due to the impact of the coronavirus. The Commerce Department said Thursday in...
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President Donald Trump gestures as he asks a question to Dr. Deborah Birx, White House coronavirus response coordinator, during a briefing about the coronavirus in the James Brady Briefing Room, Monday, March 23, 2020, in Washington. (AP Photo/Alex Brandon)
Associated Press
March 24, 2020 - 6:34 am
WASHINGTON (AP) — As cases of coronavirus rise, President Donald Trump said that he wants to reopen the country for business in weeks, not months, and claimed, without evidence, that continued closures could result in more deaths than the pandemic itself. "We can’t have the cure be worse than the...
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In this image from video, Senate Majority Leader Mitch McConnell, R-Ky., speaks on the Senate floor at the U.S. Capitol in Washington, Saturday, March 21, 2020. (Senate Television via AP)
Associated Press
March 22, 2020 - 1:13 am
WASHINGTON (AP) — Top-level negotiations between Congress and the White House are pushing toward resolution on a ballooning $1 trillion-plus economic rescue package, as President Donald Trump urged a deal to steady a nation shuttered by the coronavirus pandemic. With a population on edge and...
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This photo provided by the New York Stock Exchange shows trader Patrick Casey, left, and specialist Peter Mazza as they work on the trading floor on Friday, March 20, 2020. Stocks turned lower Friday after New York became the latest major state to mandate nearly all workers stay home to limit the spread of the new coronavirus. (Nicole Pereira/NYSE via AP)
Associated Press
March 20, 2020 - 5:13 pm
Wall Street ended the week the same way it began: in full retreat from the coronavirus. Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of the outbreak. The...
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Senate Majority Leader Mitch McConnell, R-Ky., walks to the chamber as lawmakers negotiate on the emergency coronavirus response legislation, at the Capitol in Washington, Wednesday, March 18, 2020. (AP Photo/J. Scott Applewhite)
Associated Press
March 18, 2020 - 11:46 pm
WASHINGTON (AP) — By a sweeping bipartisan tally, the Senate on Wednesday approved a $100 billion-plus bill to boost testing for the coronavirus and guarantee paid sick leave for millions of workers hit by it — and President Donald Trump quickly signed it. But lawmakers and the White House had...
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A trader holds his hand to his head after trading was halted at the New York Stock Exchange, Wednesday, March 18, 2020, in New York. (AP Photo/Mark Lennihan)
Associated Press
March 18, 2020 - 10:54 pm
BANGKOK (AP) — Shares in Asia failed to hold onto opening gains on Thursday, skidding further after the latest selloff on Wall Street. Stocks fell in Tokyo, Sydney, Hong Kong and Seoul in early trading Thursday. Investors are in search of cash as fears of a prolonged coronavirus-induced recession...
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The twin spans of the Blue Water Bridge loom over the St. Clair River in Port Huron, Mich., looking to Sarnia, Ontario, Canada, Wednesday, March 18, 2020. The Canada-U.S. border will be closed to non-essential traffic in both directions "by mutual consent," the leaders of both countries confirmed Wednesday as efforts across the continent to contain COVID-19. (AP Photo/Paul Sancya)
Associated Press
March 18, 2020 - 10:48 pm
MINNEAPOLIS (AP) — President Donald Trump invoked emergency authority to marshal industry to fight the coronavirus, as the economic fallout from the pandemic mounted Wednesday with major U.S. auto manufacturers saying they are shutting down their North American factories. The announcements came...
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A trader works the floor at the New York Stock Exchange, Tuesday, March 17, 2020 in New York. (AP Photo/Mark Lennihan)
Associated Press
March 17, 2020 - 11:42 pm
BEIJING (AP) — Major Asian stock markets were higher Wednesday after Wall Street rebounded on President Donald Trump's promise of aid to get the U.S. economy through the coronavirus outbreak. Benchmarks in Shanghai, Tokyo and Hong Kong all advanced. Australia's main index fell 5% and smaller Asian...
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Mike Mastrian, Director of the Senate Radio and Television Gallery, cleans down the podium before a news conference with Senate Majority Leader Mitch McConnell of Ky., on Capitol Hill in Washington, Tuesday, March 17, 2020. (AP Photo/Susan Walsh)
Associated Press
March 17, 2020 - 10:06 pm
WASHINGTON (AP) — In a massive federal effort Tuesday, President Donald Trump asked Congress to speed emergency checks to Americans, enlisted the military for MASH-like hospitals and implored ordinary people — particularly socially active millennials — to do their part by staying home to stop the...
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