recession

In an interview Thursday with The Associated Press, the president says the American people are "really, really down" after two years of pandemic, volatility in the economy and surging gas prices.

Despite low unemployment, solid spending, and continued job growth, signs are flashing that the U.S. economy is headed for another downturn.

With inflation at a four-decade high, a growing number of forecasters worry the U.S. economy may be headed to a recession as the Fed gears up to raise interest rates aggressively.

U.S. GDP grew at a record 33.1% annualized pace in the third quarter, erasing some but not all of the damage done by the coronavirus recession.

The U.S. is expected to report record-setting economic growth in the most recent quarter. But that won't repair all of the damage done during the spectacular downturn three months earlier.

A blockbuster new study digs into the economics of the pandemic.

While retail sales bounced back in May after a deep drop in March and April, the wealthiest Americans are not spending as freely as they did before the pandemic. And that could limit the recovery.

The World Bank issues a report this week detailing the extent of the recession, the first caused solely by a pandemic. Its findings are sobering — but do offer a glimmer of hope.

The Fed leaves interest rates near zero as expected, and promises to use all of its tools to support the economy. Officials project unemployment above 9% at the end of this year.

The committee tasked with marking U.S. business cycles says the economy peaked in February and has since been in a recession triggered by the pandemic. But it says the recession could be short-lived.

Fed Chairman Jerome Powell warns it could be another year and a half before the U.S. recovers from the economic fallout of the pandemic. But he says this will not be another Great Depression.