Recessions and depressions

In this May 7, 2019, photo, the Reserve Bank of Australia building in Sydney. Australia’s central bank has cut its benchmark interest rate by a quarter of a percentage point to a new record low of 1.25 percent in the first rate change in almost three years. (Bianca De Marchi/AAP Image via AP)
June 03, 2019 - 10:13 pm
MELBOURNE, Australia (AP) — Australia's central back on cut its benchmark interest rate Tuesday by a quarter of a percentage point to a new record low of 1.25% in the first rate change in almost three years. The change was widely expected after Reserve Bank of Australia Governor Philip Lowe said...
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FILE- In this Aug. 24, 2015, file photo specialist Frank Masiello is reflected in his screen on the floor of the New York Stock Exchange. The bond market is getting another whiff of a recession Bonds are supposed to be the boring corner of the finance world, but even high-flying stock investors stop and pay attention when they fall into a particular, concerning pattern. It’s called an “inverted yield curve,” and it happens when investors are willing to accept lower yields for long-term U.S. government bonds than for short-term debt. It’s been a relatively reliable predictor for recessions, and it’s happening again.(AP Photo/Richard Drew, FIle)
May 30, 2019 - 8:02 am
NEW YORK (AP) — The scent of a possible recession is wafting through the bond market again. Bonds are supposed to be the boring corner of the finance world, but even high-flying stock investors stop and pay attention when they fall into a particular, concerning pattern. It's called an "inverted...
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FILE - In this Feb. 17, 2015, file photo, ice covered Lake Michigan is seen behind downtown skyline, in Chicago. Big cities, like Chicago, aren't growing like they used to. New figures released by the U.S. Census Bureau on Thursday, May 23, 2019, show most of the nation's largest cities last year grew by a fraction of the numbers they did earlier this decade. (AP Photo/Kiichiro Sato, File)
May 22, 2019 - 9:16 pm
ORLANDO, Fla. (AP) — Big cities in the U.S. aren't growing like they used to. Most of the nation's largest cities last year grew by a fraction of the numbers they did earlier in the decade, according to population and housing unit estimates released Thursday by the U.S. Census Bureau. The previous...
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Australian Prime Minister Scott Morrison, right, eats a blueberry during a visit to markets in Sydney, Thursday, May 16, 2019. A federal election will be held in Australian on Saturday May 18, 2019. (Mick Tsikas/AAP Image via AP)
May 16, 2019 - 5:53 pm
CANBERRA, Australia (AP) — Australia's opposition leader said he wants to win elections on Saturday for his Australian political hero whose death overshadows the final days of campaigning. The death of former Prime Minister Bob Hawke at his Sydney home on Thursday has turned the national focus to...
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FILE - In this Aug. 16, 2010, file photo, former Prime Minister Bob Hawke speaks at the Australian Labor Party's election campaign launch in Brisbane. Hawke, Australia’s 23rd prime minister, has died in Sydney at age 89.(Alan Porritt/Pool Photo via AP, File)
May 16, 2019 - 4:54 am
CANBERRA, Australia (AP) — Bob Hawke, Australia's longest-serving Labor Party prime minister, whose charisma and powers of persuasion earned him near-folk hero status among many Australians, died on Thursday, his wife said. He was 89. The former union leader dedicated much of his political career...
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May 09, 2019 - 9:12 am
SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico's finances voted on Thursday to extend its power and bring all of the U.S. territory's 78 municipalities under its supervision for the first time. The board announced that it also will require fiscal plans and budgets...
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President Donald Trump smiles during a meeting with Slovak Prime Minister Peter Pellegrini in the Oval Office of the White House, Friday, May 3, 2019, in Washington. (AP Photo/Alex Brandon)
May 03, 2019 - 2:36 pm
NEW YORK (AP) — The lowest unemployment rate in a half century. More than 260,000 new jobs. And higher hourly wages. "I'll be running on the economy," President Donald Trump declared on Friday. And why wouldn't he? The day's new round of sunny employment figures offered fresh evidence of a strong...
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FILE- In this Jan. 24, 2019, file photo, Zakiyyah Askia, a plumbing apprentice in a program run by the nonprofit Chicago Women in Trades, welds pipes at a high rise residence under construction in Chicago. On Friday, May 3, the Institute for Supply Management, a trade group of purchasing managers, issues its index of non-manufacturing activity for April. (AP Photo/Teresa Crawford, File)
May 03, 2019 - 8:40 am
U.S. service companies grew at a slower pace in April, as business activity generally showed a leveling off. The Institute for Supply Management, an association of purchasing managers, reported Friday that its service index fell to 55.5% last month, down from 56.1% in March. Any reading above 50...
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FILE--In this Sept. 18, 2009, file photo, a man works at the Exxon Mobil refinery in Baytown, Texas. Exxon Mobil says it plans to spend $2 billion to expand a chemicals plant next to the Houston Ship Channel and that the project will create 2,000 temporary construction jobs. The company said Thursday, May 2, 2019, it will build a new unit at the Baytown plant to make chemical compounds that give plastics more elasticity and flexibility, and produce ingredients used in engine and industrial oils. Exxon says the facility should begin operating in 2022. (AP Photo/Pat Sullivan, File)
May 03, 2019 - 3:44 am
WASHINGTON (AP) — U.S. employers are expected to have delivered a solid month of job growth in April, buoyed by a resilient economy that has confounded concerns that 2019 would begin with a slowdown. Economists have forecast that employers added 181,000 jobs in April and that the unemployment rate...
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FILE- In this Feb. 27, 2019, file photo Federal Reserve Board Chair Jerome Powell gestures while speaking before the House Committee on Financial Services hearing on Capitol Hill in Washington. On Wednesday, May 1, the Federal Reserve releases its latest monetary policy statement after a two-day meeting. (AP Photo/Pablo Martinez Monsivais, File)
May 01, 2019 - 11:08 am
WASHINGTON (AP) — The Federal Reserve left its key interest rate unchanged Wednesday and signaled that no rate hikes are likely in coming months amid signs of renewed economic health but unusually low inflation. The Fed left its benchmark rate — which influences many consumer and business loans —...
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