Latest Recessions and depressions News

Editorial Roundup: Minnesota

May. 25, 2022 17:41 PM EDT

Minneapolis Star-Tribune. May 20, 2022. Editorial: Better dealmaking at the Capitol Saving a chunk of surplus is prudent as the legislative session heads to the finish line. An end-of-session deal that promises to make needed investments in Minnesota...

Fed officials signal rates may head to 'restrictive' levels

May. 25, 2022 15:20 PM EDT

WASHINGTON (AP) — Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high. At the same time, many of the...

Davos gathering overshadowed by global economic worries

May. 25, 2022 14:07 PM EDT

DAVOS, Switzerland (AP) — Soaring inflation. Russia’s war in Ukraine. Squeezed supply chains. The threat of food insecurity around the world. The lingering COVID-19 pandemic. The risks to the global economy are many, leading to an increasingly gloomy view of the months ahead for...

SC budget negotiators have almost $1B more to talk about

May. 24, 2022 16:08 PM EDT

COLUMBIA, S.C. (AP) — The South Carolina lawmakers negotiating big gap s between the House and Senate versions of the state budget received a big gift Tuesday as the state's economy continued to do better than predicted. South Carolina can now expect to have about $950 million more...

Report says North Dakota's 2022 economic outlook is strong

May. 24, 2022 15:07 PM EDT

BISMARCK, N.D. (AP) — The latest economic outlook report for North Dakota is showing continued improvement for 2022, despite a national economy that shrank in the first quarter and is showing signs of entering a recession. The quarterly report by the University of North Dakota...

Powell: 'Soft' economic landing may be out of Fed's control

May. 24, 2022 10:35 AM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. For...

Davos updates | Urgent need in Afghanistan is saving economy

May. 23, 2022 15:21 PM EDT

DAVOS, Switzerland (AP) — Two high-level speakers at the World Economic Forum gathering say Afghanistan’s most urgent need is saving its economy from complete collapse. Achim Steiner, administrator of the United Nations Development Program, said Monday in Davos that “we cannot...

Biden launches Indo-Pacific trade deal, warns over inflation

May. 23, 2022 07:50 AM EDT

TOKYO (AP) — President Joe Biden launched a new trade deal with 12 Indo-Pacific nations Monday aimed at strengthening their economies as he warned Americans worried about high inflation that it is "going to be a haul” before they feel relief. The president said he does not believe an economic...

Biden: Recession in US not inevitable, says economy has 'problems,' but 'less consequential than the rest of the world'

May. 23, 2022 01:51 AM EDT
TOKYO (AP) — Biden: Recession in US not inevitable, says economy has 'problems,' but 'less consequential than the rest of the world.'

Asian shares mixed after Wall St barely misses bear market

May. 22, 2022 23:22 PM EDT

Shares are mixed in Asia in cautious trading after Wall Street rumbled to the edge of a bear market on Friday. Tokyo and Sydney were higher Monday while Hong Kong and Shanghai declined. Investors were awaiting minutes from the latest policy setting meeting of the...