Martin Crutsinger

AP Economics Writer

Former Fed Chair Janet Yellen during an appearance on Fox Business Network in Washington, Aug. 14, 2019.

Yellen Urges Congress to Do More to Fight Pandemic Recession

The Treasury Secretary nominee said the nation risks "long-term scarring of the economy" without further action.

The WhatsApp app on a smartphone in New York, March 10, 2017.

Encrypted Messaging Apps Surge

Signal and Telegram are seeing huge upticks in downloads, while Facebook-owned WhatsApp saw its growth decline.

World Bank President David Malpass during a news conference at the World Bank/IMF Annual Meetings in Washington, Oct. 17, 2019.

World Bank Sees Subdued Recovery, Plenty of Risk

The bank expects 4% growth this year after the largest decline since World War II.

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Factory Orders Rise in November

Orders for durable goods rose a moderate 0.9%, while a key business investment metric also showed a gain.

Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing on Capitol Hill, Sept. 24, 2020.

Fed Signals Readiness to Do More for Economy as Virus Rages

The central bank again pledged to use its "full range of tools."

Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Sept. 24, 2020, on Capitol Hill.

Fed Confronts a Shaky US Economy that Likely Needs More Help

The economy and the job market have weakened again after initially strong bounce-backs from the pandemic-fueled recession.

Workers at a home under construction along the waterfront in Gig Harbor, Wash., Oct. 28, 2020.

US Productivity Increases 4.9% in Third Quarter

The pace slowed from the previous quarter but remained higher than much of the past decade.

Machines at Ford's Chicago Assembly Plant in Chicago, June 24, 2019.

US Manufacturing Activity at Highest Levels in Two Years

Analysts said home construction and auto sales fueled demand in the wake of spring lockdowns.

A passer-by walks past a store closing sign in Boston, Oct. 27, 2020.

US Economy Grew at 33% Rate in Q3

But the recovery from the deepest recession since the Great Depression remains far from complete.

People line up for a free meal in the Villa Maria del Triunfo district in Lima, Peru, June 17, 2020.

IMF Warns Global Economy Could Be Permanently Scarred

Finance ministers warned the unprecedented crisis requires steps "to enable a recovery like no other."

Kristalina Georgieva, managing director of the International Monetary Fund, attends a session of the Munich Security Conference, Munich, Feb. 14, 2020.

IMF Head Says Global Economy Facing Long Climb to Recovery

Many countries are experiencing a better-than-expected rebound in recent weeks.

Treasury Secretary Steven Mnuchin testifies on Capitol Hill, Sept. 1, 2020.

Watchdog Says Millions in Danger of Missing Virus Payouts

The GAO said some 8.7 million eligible Americans have yet to receive payments because of inadequate IRS and Treasury records.