Latest Recessions and depressions News

Editorial Roundup: Indiana

Jan. 18, 2022 18:08 PM EST

The (Fort Wayne) Journal Gazette. Jan. 18, 2022. Editorial: College credit During the first years of the Great Recession, college enrollment jumped by 16% between fall 2007 and fall 2010. It’s been the opposite during the pandemic, with colleges nationwide losing...

Eurogroup seeks path between high inflation, slower growth

Jan. 17, 2022 15:01 PM EST

BRUSSELS (AP) — Euro finance chiefs on Monday ventured into a high-wire political balancing act prompted by conflicting economic forces: a weaker growth outlook and stronger inflation. Finance ministers from the 19 nations that share the euro currency pledged continued budgetary...

Biden chooses 3 for Fed board, including first Black woman

Jan. 14, 2022 18:11 PM EST

WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the Fed's board. ...

Biden nominates 3 for Fed board, including first Black woman

Jan. 14, 2022 17:38 PM EST

WASHINGTON (AP) — President Joe Biden on Friday announced the nominations of three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the...

Omicron leaves Germany on brink of recession as growth dips

Jan. 14, 2022 07:40 AM EST

FRANKFURT, Germany (AP) — The risk of recession is looming for Germany after Europe’s biggest economy shrank at the end of 2021 and as it faces a bumpy start to this year, with the rapid spread of COVID-19's omicron variant deterring people from shopping and travel and supply bottlenecks...

Fed nominee Brainard: Fighting inflation is top priority

Jan. 13, 2022 13:25 PM EST

WASHINGTON (AP) — Lael Brainard, President Joe Biden's nominee for the Federal Reserve's No. 2 spot, said Thursday that combating high inflation is the central bank's top priority and said she believed the Fed could reduce it without sacrificing economic growth. Testifying at her...

U.S. jobless claims rise by 23,000 to 230,000

Jan. 13, 2022 09:09 AM EST

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to the highest level since mid-November, but still low by historic standards. U.S. jobless claims climbed by 23,000 last week to 230,000, the Department of Labor said Thursday. The four-week...

Brainard vows to help combat inflation as No. 2 Fed official

Jan. 12, 2022 19:58 PM EST

WASHINGTON (AP) — Lael Brainard pledged in written remarks Wednesday to help the Federal Reserve fight a spike in inflation while still supporting the economic recovery — a tricky balancing act she would face if confirmed as the Fed's No. 2 official. Brainard, a member of the...

US posted smallest monthly deficit in 2 years in December

Jan. 12, 2022 15:58 PM EST

WASHINGTON (AP) — The federal government last month posted its smallest monthly budget deficit in two years thanks to a rebounding economy that helped boost tax receipts, coupled with slower spending as some COVID relief programs ended. The Treasury Department reported Wednesday...

Inflation at 40-year high pressures consumers, Fed and Biden

Jan. 12, 2022 15:30 PM EST

WASHINGTON (AP) — Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address what has become the biggest threat to...