Recessions and depressions

Federal Reserve Chairman Jerome Powell walks to the podium during a news conference following a two-day Federal Open Market Committee meeting in Washington, Wednesday, July 31, 2019. (AP Photo/Manuel Balce Ceneta)
July 31, 2019 - 2:57 pm
WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for the first time in a decade to try to counter threats ranging from uncertainties caused by President Donald Trump's trade wars to chronically low inflation and a dim global outlook. The Fed also repeated a pledge to "act...
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FILE - This file photo shows Indiana Reformatory booking shots of John Dillinger, stored in the state archives, and shows the notorious gangster as a 21-year-old. Records show that Dillinger was admitted into the reformatory on Sept. 16, 1924. The body of the 1930s gangster is set to be exhumed from an Indianapolis cemetery more than 85 years after he was killed by FBI agents. The Indiana State Department of Health approved a permit July 3, 2019, that Dillinger's nephew, Michael C. Thompson, sought to have the body exhumed from Crown Hill Cemetery and reinterred there.(AP Photo/The Indianapolis Star, Charlie Nye, File)
July 30, 2019 - 6:06 pm
INDIANAPOLIS (AP) — The body of notorious 1930s gangster John Dillinger is expected to be exhumed in September at an Indianapolis cemetery but it could be a tough job because his grave is encased in concrete. Digging up the remains more than 85 years after Dillinger was killed by FBI agents also...
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In this Wednesday, July 24, 2019 photo, the container ship Seaboard Atlantic is shown docked at PortMiami in Miami. The government says the U.S. economy grew more slowly in 2018 than it previously estimated, downgrading its estimate from 3% to 2.5%. President Donald Trump had frequently boasted of the 3% growth figure as evidence that his policies invigorated the economy. (AP Photo/Wilfredo Lee)
July 26, 2019 - 5:55 pm
WASHINGTON (AP) — The U.S. economy slowed sharply in the April-June quarter even as consumers stepped up their spending. The gross domestic product, the economy's total output of goods and services, grew at a 2.1% annual rate last quarter, down from a 3.1% gain in the first quarter, the Commerce...
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Sen. Elizabeth Warren, D-Mass., speaks about a bill to cancel student loan debt, Tuesday, July 23, 2019, on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)
July 26, 2019 - 2:30 pm
WASHINGTON (AP) — Elizabeth Warren became a household name thanks to her prescient warning of what became a global financial crisis. Now she's staking her credentials on another forecast of fiscal trauma ahead. But even economists who like her prescription are skeptical about her diagnosis. The...
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About 200-300 people from the North Texas (Dallas-Fort Worth area) Puerto Rican community gather to protest Gov. Ricardo Rossello outside the Adobo Puerto Rican Cafe in Irving, Texas, Sunday, July 21, 2019. Puerto Rico's embattled governor says he will not seek re-election but will not resign as the island's leader, though he will step down as head of his pro-statehood party. (Tom Fox/The Dallas Morning News via AP)
July 21, 2019 - 10:08 pm
SAN JUAN, Puerto Rico (AP) — Puerto Rico Gov. Ricardo Rosselló said Sunday evening that he will not resign in the face of public furor over an obscenity-laced leaked online chat, but he will not seek reelection or continue as head of his pro-statehood political party. Protesters said they were not...
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Conservative party leadership candidate Boris Johnson delivers his speech during a Conservative leadership hustings at ExCel Centre in London, Wednesday, July 17, 2019. The two contenders, Jeremy Hunt and Boris Johnson are competing for votes from party members, with the winner replacing Prime Minister Theresa May as party leader and Prime Minister of Britain's ruling Conservative Party. (AP Photo/Frank Augstein)
July 18, 2019 - 10:28 am
LONDON (AP) — British lawmakers on Thursday put a substantial roadblock in the path of any attempt by a Brexit-backing prime minister to take the country out of the European Union without a divorce deal. The move came as the U.K.'s official economic watchdog said a no-deal Brexit would trigger a...
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In this undated 1992 photo, businessman and U.S. presidential candidate H. Ross Perot, of Texas, waves. Perot, the Texas billionaire who twice ran for president, has died, a family spokesperson said Tuesday, July 9, 2019. He was 89. (AP Photo/File)
July 09, 2019 - 3:01 pm
DALLAS (AP) — H. Ross Perot, the colorful, self-made Texas billionaire who rose from a childhood of Depression-era poverty and twice mounted outsider campaigns for president, has died. He was 89. The cause of death was leukemia, a family spokesman said Tuesday. Perot, whose 19% of the vote in 1992...
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July 07, 2019 - 5:04 pm
NEW YORK (AP) — Martin Charnin, who made his Broadway debut playing a Jet in the original "West Side Story" and went on to become a Broadway director and a lyricist who won a Tony Award for the score of the eternal hit "Annie," has died. He was 84. He died Saturday at a White Plains, New York,...
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In this photo taken April 3, 2019, a pair of students walk past a historic mural that includes slaves and a dead Native American at George Washington High School in San Francisco. The San Fransisco school board unanimously voted Tuesday, June 25, 2019, to destroy a controversial mural displayed in a public high school. This is the latest move in recent times to remove New Deal-era art, now considered offensive. (Yalonda M. James/San Francisco Chronicle via AP)
July 04, 2019 - 5:23 pm
SAN FRANCISCO (AP) — San Francisco will spend up to $600,000 to paint over historical artwork at a public school depicting the life of George Washington, a mural once seen as educational and innovative but now criticized as racist and degrading for its depiction of black and Native American people...
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FILE - In this May 2, 2019, file photo Mark Carney the Governor of the Bank of England speaks during an Inflation Report Press Conference at the Bank of England in the City of London. The Bank of England is open to the idea of letting new payment services such as Facebook's upcoming Libra hold funds with the central bank, Carney said Thursday, June 20. (AP Photo/Matt Dunham, Pool, File)
July 03, 2019 - 7:14 am
LONDON (AP) — The British economy appears to be showing signs of falling into recession as uncertainty over Brexit combines with a less benign global backdrop. A closely watched survey of business activity in the U.K. showed Wednesday that the economy contracted in June at its steepest rate since...
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