Recessions and depressions
FILE - In this Thursday, Feb. 18, 2021 file photo, a new home is for sale in Madison, Ga. Mortgage rates rose above the 3% mark this week for the first time in 10 weeks, as the economic recovery from the pandemic recession continues while inflation remains elevated. Mortgage buyer Freddie Mac reported Friday, June 25 that the average for the key 30-year home loan rose to 3.02% from 2.93% last week. By contrast, the rate stood at 3.13% a year ago.(AP Photo/John Bazemore, File)
US mortgage rates rise over 3%; 30-year at 3.02%

Jun. 25, 2021 04:55 PM EDT

Editorial Roundup: New England

By The Associated Press Jun. 25, 2021 03:45 PM EDT
Hearst Connecticut Media. June 23, 2021. Editorial: Police accountability demands transparency The powers granted to...

FILE - This Jan. 13, 2021, file photo shows a Chase ATM in New York. All 23 of the nation's biggest banks are healthy enough to withstand a sudden economic catastrophe, the Federal Reserve said Thursday, June 24, as it released the results from its latest "stress tests," giving the banks the green light to start paying out dividends to investors and buying back stock. (AP Photo/Mark Lennihan, File)
All big banks pass latest Federal Reserve 'stress tests'

By Ken Sweet Jun. 24, 2021 04:41 PM EDT

This May 5, 2021 photo shows hiring signs posted outside a gas station in Cranberry Township, Butler County, Pa. The number of Americans applying for unemployment benefits dropped last week, reported Thursday, June 24, a sign that layoffs declined and the job market is improving. (AP Photo/Keith Srakocic)
US jobless claims tick down to 411,000 as economy heals

By Christopher Rugaber Jun. 24, 2021 08:39 AM EDT

FILE - In this Wednesday, March 11, 2020 file photo, pedestrians wearing face masks pass the Bank of England in London. The Bank of England has kept its main interest rate at the record low of 0.1%. In a statement Thursday, June 24, 2021 accompanying its decision, the bank’s rate-setting Monetary Policy Committee voted unanimously to keep borrowing rates unchanged. (AP Photo/Matt Dunham, File)
Bank of England warns of rising inflation, but rates held

By Pan Pylas Jun. 24, 2021 07:26 AM EDT

FILE - In this Oct. 3, 2018 file photo, Gary Kelly, Chairman and CEO, Southwest Airlines Co., speaks in Detroit. Southwest said Wednesday, June 23, 2021, that Kelly will step down next February and be succeeded by Robert Jordan, the airline's executive vice president of corporate services.(AP Photo/Paul Sancya, File)
Longtime Southwest Airlines CEO will step down next year

By David Koenig Jun. 23, 2021 10:17 AM EDT

This March 21, 2021 photo shows an advertising sign for building land stands in front of a new home construction site in Northbrook, Ill. Mortgage rates were mostly lower this week, Thursday, June 17, as the economy continued to show signs of recovery from the pandemic recession and recent bursts of inflation were deemed temporary by federal policymakers. (AP Photo/Nam Y. Huh)
US average mortgage rates mostly lower; 30-year at 2.93%

Jun. 17, 2021 01:57 PM EDT

A hiring sign shows in Vernon Hills, Ill., Friday, June 11, 2021. Barely more than a year after the coronavirus caused the steepest economic fall and job losses on record, the speed of the rebound has been so unexpectedly swift that many companies can't fill jobs or acquire enough supplies to meet a pent-up burst of customer demand. (AP Photo/Nam Y. Huh)
US jobless claims tick up to 412,000 from a pandemic low

By Paul Wiseman Jun. 17, 2021 08:36 AM EDT

Greek Prime Minister Kyriakos Mitsotakis, left, and European Commission President Ursula von der Leyen, look at a big screen, during their meeting at the Ancient Agora in Athens, Thursday, June 17, 2021. ( Louiza Vradi/Pool via AP)
EU endorses massive pandemic relief for recession-hit Greece

By Elena Becatoros And Derek Gatopoulos Jun. 17, 2021 06:52 AM EDT

FILE - In this Dec. 1, 2020 file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. The Federal Reserve signaled Wednesday, June 16, 2021, that it may act sooner than previously planned to start dialing back the low-interest rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising inflation. The Fed's policymakers forecast that they would raise their benchmark short-term rate, which influences many consumer and business loans, twice by late 2023. They had previously estimated that no rate hike would occur before 2024. (AP Photo/Susan Walsh, Pool, File)
Fed sees earlier time frame for rate hikes with inflation up

By Christopher Rugaber Jun. 16, 2021 02:07 PM EDT

A carpenter aligns a beam for a wall frame at a new house site in Madison County, Miss., Tuesday, March 16, 2021. U.S. home construction fell by a bigger-than-expected amount in April but the drop came after housing had risen to the highest level in 15 years. The Commerce Department said Tuesday, May 18, that construction dropped 9.5% in April to a seasonally adjusted annual rate of 1.57 million units. % in April to an annual rate of 1.76 million units, a good sign that the April dip in construction will be temporary. (AP Photo/Rogelio V. Solis)
US home construction up a moderate 3.6% in May

By Martin Crutsinger Jun. 16, 2021 08:39 AM EDT

FILE - In this Dec. 1, 2020 file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. The Federal Reserve reports that the U.S. economy grew at a somewhat faster pace from early April to late May despite adverse effects from supply chain disruptions. The Fed’s latest survey of economic conditions around the nation released Wednesday, June 2 2021, said that several Fed districts reported positive effects on the economy from increased vaccination rates and relaxed social distancing measures. (AP Photo/Susan Walsh, Pool, File)
Delicate task for Fed: When to pull back on low-rate support

By Christopher Rugaber Jun. 14, 2021 01:18 PM EDT

How major US stock indexes fared Friday

The Associated Press Jun. 11, 2021 04:25 PM EDT
Stocks shook off a wobbly day of trading and ended modestly higher on Wall Street Friday, giving the S&P 500 its third weekly gain in a row. ...

FILE - The front of the New York Stock Exchange is shown, Monday, May 24, 2021. Stocks are opening solidly higher on Wall Street Friday, June 11 keeping the S&P 500 on track for its third weekly gain in a row. The benchmark index was up 0.1%. (AP Photo/Mark Lennihan, File)
Stocks notch modest gains and a 3rd winning week for S&P 500

By Damian J. Troise And Alex Veiga Jun. 11, 2021 02:59 AM EDT

FILE - In this March 15, 2021 file photo, a sold sign stands in front of new home under construction in Houston. Mortgage rates remained near historic lows this week, Thursday, June 10. The benchmark 30-year home loan remained below the 3% mark amid continued positive indications of the economy's recovery from the pandemic recession. (AP Photo/David J. Phillip, File)
US average mortgage rates tick lower; 30-year loan at 2.96%

By The Associated Press Jun. 10, 2021 02:59 PM EDT

FILE - This April 5, 2021 file photo shows the World Bank building in Washington. The World Bank is upgrading the outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades. In its latest Global Economic Prospects report, out Tuesday, June 8, the 189-country anti-poverty agency forecasts that the world economy will grow 5.6% this year, up from the 4.1% it forecast in January. (AP Photo/Andrew Harnik, File)
World Bank sees 5.6% global growth in 2021, best since 1973

By Paul Wiseman Jun. 08, 2021 09:33 AM EDT

FILE - In this May 26, 2020, file photo, Arizona Senate President Karen Fann, R-Prescott, speaks to the media in Phoenix. A budget deal struck between Republican leader Fann and Rep. Rusty Bowers, R-Mesa, and Gov. Doug Ducey includes implementing a flat 2.5% income tax that cuts $1.5 billion a year from state revenue and keeps higher earning taxpayers from having to directly pay a new 3.5% surcharge to fund schools. (AP Photo/Ross D. Franklin, File)
Bid by GOP Arizona House leaders to pass budget falls flat

By Bob Christie Jun. 07, 2021 05:17 PM EDT

In this May 26, 2021 photo, a sign for workers hangs in the window of a shop along Main Street in Deadwood, S.D. U.S. employers added 559,000 jobs in May, an improvement from April’s sluggish gain but still evidence that many companies are struggling to find enough workers as the economy rapidly recovers from the pandemic recession. (AP Photo/David Zalubowski)
US economy: Plenty of growth, not enough workers or supplies

By Paul Wiseman Jun. 05, 2021 10:03 AM EDT

A patron leaves Charleys Philly Steaks restaurant, Friday, June 4, 2021, in Mayfield Heights, Ohio. Hiring in the United States picked up in May yet was slowed again by the struggles of many companies to find enough workers to keep up with the economy's swift recovery from the pandemic recession. U.S. employers added 559,000 jobs last month, the Labor Department said Friday, an improvement from April's sluggish increase of 278,000. (AP Photo/Tony Dejak)
EXPLAINER: 5 key takeaways from the May jobs report

By Paul Wiseman Jun. 04, 2021 03:20 PM EDT

A man walks into 5th Avenue Deli and Grill, Friday, June 4, 2021, in Mayfield Heights, Ohio. Hiring in the United States picked up in May yet was slowed again by the struggles of many companies to find enough workers to keep up with the economy's swift recovery from the pandemic recession. U.S. employers added 559,000 jobs last month, the Labor Department said Friday, an improvement from April's sluggish increase of 278,000. (AP Photo/Tony Dejak)
US businesses struggle to fill jobs even as hiring picks up

By Christopher Rugaber Jun. 04, 2021 12:01 AM EDT