Financial crisis

FILE - In this March 3, 2020 file photo Federal Reserve Chair Jerome Powell speaks during a news conference in Washington. Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country’s ability to contain the spread of the coronavirus. “A full recovery is unlikely until people are confident that it is safe to re-engage in a broad range of activities,” Powell says in testimony he is scheduled to deliver Tuesday, June 30, 2020 in an appearance with Treasury Secretary Steven Mnuchin before the House Financial Services Committee. (AP Photo/Jacquelyn Martin, file)
June 29, 2020 - 5:16 pm
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country’s ability to contain the spread of the coronavirus. “A full recovery is unlikely until people...
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German Chancellor Angela Merkel and French President Emmanuel Macron, left, talk during a bilateral meeting at the German government's guest house Meseberg Castle in Gransee near Berlin, Germany, Monday, June 29 2020. The meeting takes place ahead of Germany's EU Council Presidency in the second half of 2020. (Hayoung Jeon, Pool via AP)
June 29, 2020 - 2:44 pm
BERLIN (AP) — The leaders of Germany and France said Monday they will use their influence as European Union powerhouses to help negotiate a rapid agreement on a coronavirus recovery package for the 27-nation bloc that leaves no country behind. In their first face-to-face meeting since the start of...
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Hezbollah and Amal supporters wave Hezbollah and Iranian flags as they shout slogans against Israel and U.S. during a protest in the southern suburb of Beirut, Lebanon, Sunday, June 28, 2020. The protest came hours after Lebanon's foreign minister summoned the U.S. ambassador to Beirut over comments, she made recently in which she criticized Hezbollah. The meeting between Foreign Minister Nassif Hitti and Ambassador Dorothy Shea is scheduled for Monday afternoon. (AP Photo/Hassan Ammar)
June 28, 2020 - 2:44 pm
BEIRUT (AP) — Lebanon’s foreign minister summoned the U.S. ambassador to Beirut over comments she made recently in which she criticized the militant Hezbollah group, state-run National News Agency reported Sunday. In Hezbollah's stronghold south of Beirut, some 500 protesters marched on foot and...
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A health worker takes a blood sample for a quick COVID-19 test from man who works selling cookies at the Coche food market in Caracas, Venezuela, Tuesday, June 23, 2020. Health authorities tested people arriving at the market as a preventive measure to help curb the spread of the new coronavirus. (AP Photo/Ariana Cubillos)
June 26, 2020 - 3:30 pm
CARACAS, Venezuela (AP) — Hospitals in the capital of Venezuela's main oil-producing state are filled with coronavirus patients and dozens of health workers have been infected, witnesses said this week in the first reports of the pandemic overwhelming the country's debilitated health care system...
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FILE - In this Oct. 14, 2019, file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. The Federal Reserve said on Thursday, June 25, 2020, a worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause nation’s 34 largest banks to collectively lose roughly $700 billion. To bolster the banks ahead such a potentially damaging recession, the Fed ordered the banks to suspend stock buybacks and dividend payouts until Sept. 30. (AP Photo/Steven Senne)
June 25, 2020 - 11:38 pm
NEW YORK (AP) — A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday. To bolster the banks ahead of such a potentially damaging recession, the Fed ordered...
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2020. Asian stock markets followed Wall Street higher on Friday after U.S. regulators removed some limits on banks' ability to make investments. (AP Photo/Ahn Young-joon)
June 25, 2020 - 11:28 pm
BEIJING (AP) — Asian stock markets followed Wall Street higher on Friday after U.S. regulators removed some limits on banks' ability to make investments. Benchmarks in Tokyo, Sydney and Southeast Asia advanced while Hong Kong declined. Chinese markets were closed for a holiday. Wall Street closed...
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FILE - This May 22, 2020 photo shows the Federal Reserve building in Washington. The Federal Reserve and four other bank regulatory agencies announced on Thursday, June 25, that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “Volcker Rule” gave an immediate boost to bank stocks because the rule change could free up billions of dollars in capital in the banking industry.(AP Photo/Patrick Semansky, File)
June 25, 2020 - 3:34 pm
WASHINGTON (AP) — The Federal Reserve and four other regulatory agencies announced on Thursday that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “...
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An empty parking lot is seen at a temporarily closed Kohl's department store, Wednesday, April 29, 2020, in Havertown, Pa. Devastated by the coronavirus, the U.S. economy is sinking. Now, as some businesses in a few states start to trickle back to work, hopes are beginning to arise that the economy, damaged as it is, might be poised to rebound by the second half of the year. (AP Photo/Matt Slocum)
June 25, 2020 - 1:04 pm
WASHINGTON (AP) — The U.S. economy shrank at a 5.0% rate in the first quarter and a vastly worse performance is expected in the current three-month period, when the coronavirus pandemic began to spread across the U.S. The Commerce Department reported Thursday that the decline in the gross domestic...
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FILE - In this Friday, June 12, 2020 file photo, a nurse uses a swab to perform a coronavirus test in Salt Lake City. Months into the outbreak, no one really knows how well many of the screening tests work, and experts at top medical centers say it is time to do the studies to find out. (AP Photo/Rick Bowmer)
June 24, 2020 - 11:44 am
NEW YORK (AP) — Business writers Bethany McLean and Joe Nocera are collaborating on a critical take of the U.S. response to the coronavirus pandemic. Portfolio, a Penguin Random House imprint, announced Wednesday that the two had reached an agreement for a “news-breaking, character-driven narrative...
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FILE - In this Feb. 14, 2020, file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. (AP Photo/Jens Meyer, File)
June 24, 2020 - 9:33 am
WASHINGTON (AP) — The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. The IMF predicts that the global economy will shrink 4.9% this year,...
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