Recessions and depressions

In this Thursday, May 28,2020 photo Virginia Binkerhoff stands outside the Just Dandy women's clothing store she owns in downtown Cheyenne, Wyo. The cancellation of this summer's Cheyenne Frontier Days rodeo and cowboy festival due to the coronavirus portends more hard times ahead for businesses struggling in Wyoming's capital city. (AP Photo/Mead Gruver)
May 29, 2020 - 5:55 pm
CHEYENNE, Wyo. (AP) — The Just Dandy women's clothing store in downtown Cheyenne has endured fire, flooding, recessions and so far the coronavirus pandemic, but will this year's cancellation of the city's famous cowboy-and-rodeo festival, Cheyenne Frontier Days, be the daddy-of-'em-all disaster? “I...
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A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 29, 2020. Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. (AP Photo/Eugene Hoshiko)
May 29, 2020 - 5:01 pm
Stocks closed out a solid week on Wall Street Friday with a late-afternoon rebound after worries that President Donald Trump would reignite a costly trade war with China faded. The benchmark S&P 500 index rose 0.5%, recovering from a 1% slide, after Trump outlined several actions in response to...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve will issue the first loans under its groundbreaking Main Street Lending program in a “few days,” Powell said Friday, May 29. (AP Photo/Jacquelyn Martin)
May 29, 2020 - 2:21 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward...
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A woman walks into a closing Gordmans store, Thursday, May 28, 2020, in St. Charles, Mo. Stage Stores, which owns Gordmans, is closing all its stores and has filed for Chapter 11 bankruptcy. (AP Photo/Jeff Roberson)
May 29, 2020 - 11:28 am
WASHINGTON (AP) — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession. Last month's spending decline was far worse than the revised 6.9% drop in March, which itself had...
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A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 29, 2020. Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. (AP Photo/Eugene Hoshiko)
May 28, 2020 - 11:56 pm
BANGKOK (AP) — Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. Benchmarks declined in Hong Kong, Tokyo and Sydney but rose in Shanghai. Investors are nervously awaiting a news conference about China by President Donald Trump later in...
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A women wearing a face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange, Thursday, May 28, 2020. Asian stocks are mixed after an upbeat open, as hopes for an economic rebound from the coronavirus crisis were dimmed by tensions between the U.S. and China over Hong Kong and other issues. (AP Photo/Vincent Yu)
May 28, 2020 - 12:35 am
BANGKOK (AP) — Asian stocks were mixed after an upbeat open on Thursday, as investors pinned their hopes on an economic rebound from the coronavirus crisis. Shares rose in Tokyo, Sydney and Shanghai but dropped in Hong Kong, where tensions are flaring over Beijing’s effort to exert more control...
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FILE - In this July, 1997 file photo, Dwayne Hargo, left, Rick Chatman, right, and Quail Dobbs, in the barrel, try to divert the bull's attention away from a fallen cowboy at the Frontier Days rodeo in Cheyenne, Wyo. Cheyenne Frontier Days has been canceled for the first time in its 124-year history due to the coronavirus. Cheyenne Mayor Marian Orr said Wednesday, May 27, 2020 that organizers decided the risk of spreading the virus was too great for the more than 140,000 people who visit Cheyenne for Frontier Days in late July. (AP Photo/Ed Bailey, File)
May 27, 2020 - 8:52 pm
CHEYENNE, Wyo. (AP) — Cheyenne Frontier Days was canceled Wednesday because of the coronavirus pandemic, marking the first time the event billed as the world’s largest outdoor rodeo has been called off in its 124-year history. City and state officials announced the decision. Event organizers...
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European Commission President Ursula von der Leyen, right, gestures hello to an MEP prior to addressing the European Parliament plenary in Brussels, Wednesday, May 27, 2020. The European Union is to unveil Wednesday a massive coronavirus recovery plan worth hundreds of billions of euros to help countries rebuild their ailing economies, but the bloc remains deeply divided over what conditions should be attached to the funds. (AP Photo/Olivier Matthys)
May 27, 2020 - 1:21 pm
BRUSSELS (AP) — The European Union proposed a 750 billion-euro ($825 billion) recovery fund to help countries weather a painful recession triggered by the coronavirus and sought Wednesday to bridge divisions over the conditions that should be attached for access to the money. The fund, to be mostly...
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This photo combo shows from left, Lisa Su, president and CEO of AMD, David M. Zaslav, President and Chief Executive Officer of Discovery Communications, General Motors Chairman and Chief Executive Officer Mary Barra, Walt Disney Company Chairman and CEO Robert A. Iger and Netflix Founder and CEO Reed Hastings. The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million in 2019, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation.  (AP Photo/File)
May 27, 2020 - 12:08 pm
The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million last year, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation. Median pay for CEOs in the survey climbed 4.1% last year. For the typical...
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Japan's Prime Minister Shinzo Abe speaks during a meeting of government and ruling party officials at his office in Tokyo Wednesday, May 27, 2020. Japan’s Cabinet has approved a proposed 32 trillion-yen ($296 billion) supplementary budget to help fund measures to cushion the blow to the economy from the coronavirus pandemic. (Kyodo News via AP)
May 27, 2020 - 7:26 am
TOKYO (AP) — Japan’s Cabinet approved a proposed 32 trillion-yen ($296 billion) supplementary budget Wednesday to help fund $1.1 trillion in measures to cushion the blow to the economy from the coronavirus pandemic. The extra funding under consideration includes support for small businesses,...
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