The Great Recession from 2007-09 saw GDP fall 4.3%, the biggest drop since the Great Depression. Deregulation in the 2000s and excessive risk by banks were major causes of the financial crisis.

The National Bureau of Economic Research (NBER) defines a recession as a “significant decline in economic activity that is spread across the economy, lasting more than a few months.” Three criteria – ...

Federal Reserve Board Chairman Jerome Powell said he did not believe the United States was in a recession — but then said the Fed doesn’t make such determinations ...