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recession

Apr 30, 2025

Truckers hope freight recession is finally ending

Virginia truckers eye regulatory rollbacks under Trump and hope a February freight bump signals recovery after the nation’s longest freight recession.

President Donald Trump speaks with reporters as he participates in a ceremonial swearing in of Paul Atkins as chairman of the Securities and Exchange Commission, in the Oval Office of the White House, Tuesday, April 22, 2025, in Washington. (AP Photo/Alex Brandon)
Apr 30, 2025

Trump’s tariffs echo Hoover-era economic missteps

Trump's 2025 tariffs trigger market turmoil, drawing comparisons to Hoover's Depression-era policies and warnings from economists and business leaders.

Apr 22, 2025

The Latest: As controversies pile up, Trump allies increasingly turn on one another

The infighting and backstabbing that plagued Trump‘s first term have returned as a threat to his second, with deepening fissures over trade, national security and questions of personal loyalty. The latest turmoil threatens to engulf the Pentagon, where Defense Secretary Pete Hegseth has pushed out top advisers and faces fresh controversy over sharing sensitive information about airstri[...]

FILE - In this July 31, 2019, file photo, Federal Reserve Chairman Jerome Powell speaks during a news conference following a two-day Federal Open Market Committee meeting in Washington. (AP Photo/Manuel Balce Ceneta, File)
Apr 21, 2025

Trump renews attack on Federal Reserve Chair Powell

WASHINGTON (AP) — President Donald Trump repeated his attacks Monday against the chair of the Federal Reserve, demanding that the central bank lower its key interest rate to boost the economy. Trump called Jerome Powell “a major loser” and said that energy and grocery prices are “substantially lower” and “there is virtually No Inflation.” Yet Trump said the […]

Apr 21, 2025

Is slight rise in Virginia unemployment ‘calm before storm?’

Virginia’s unemployment rate numbers are on a slight rise, according to data from the state’s Department of Workforce Development and Advancement, also known as Virginia Works. The state agency reports that Virginia’s seasonally adjusted unemployment rate in March rose a tenth of a percentage point to 3.2 % compared to 3.1% in February and 2.8% […]

Trader Sal Suarino works on the floor of the New York Stock Exchange, Monday, April 21, 2025. (AP Photo/Richard Drew)
Apr 21, 2025

The Dow sinks nearly 1,000 points

NEW YORK (AP) — Wall Street weakened Monday as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking the traditional order. The S&P 500 sank 2.4% in another wipeout. That yanked the index that’s at the center of many 401(k) accounts 16% below […]

Apr 8, 2025

Will the tariffs lead to a recession? Here’s how to know if we’re in one

WASHINGTON (AP) — President Donald Trump‘s sharp tariff hikes last week have sent the stock market into a tailspin, raised alarm bells among Wall Street executives, and heightened many economists’ worries that the U.S. could tip into recession. The tariffs, set to take effect Wednesday, include a 10% blanket duty on nearly all countries and additional import taxes on […]

Elon Musk, left, shakes hands with President Donald Trump at the finals for the NCAA wrestling championship, Saturday, March 22, 2025, in Philadelphia. (AP Photo/Matt Rourke)
Mar 31, 2025

Our View: Trump charts chaotic course in trade wars

Since taking office on Jan. 20 for his second term, President Donald Trump has steered the ship of state full speed on a seemingly chaotic course, mostly navigating an about-face from the Biden administration’s policies and only very occasionally zigzagging away from buffeting winds of public disapproval. In support of making progress on the administration’s […]

Feb 28, 2024

How’s your confidence?

Business always has its up and downs. We’ve all been through more than a few. As au courant as the dot-com economy might seem, that bubble floated skyward decades ago, bursting in 2002. It wasn’t just a small dip. Between 1995 and its peak in March 2000, the tech stock-heavy Nasdaq index rose by 800%, […]

Feb 28, 2024

Financial Services: Signs of health

What’s that we hear? Is the economy growing healthier? It’s getting stronger for sure, Federal Reserve Bank of Richmond President and CEO Tom Barkin said in January during the 2024 Financial Forecast event co-hosted in Richmond by the Virginia Bankers Association and the Virginia Chamber of Commerce. Inflation was 3.4% in December 2023, inching closer […]

Feb 27, 2023

Crying wolf?

It’s “the most predicted potential recession in memory,” Federal Reserve Bank of Richmond President and CEO Tom Barkin quipped in January, but it hasn’t happened yet. Maybe. During the first half of 2022, surveys of consumers and CEOs showed they were worried about a recession coming on the heels of a 40-year peak in inflation […]

“Market declines do not destroy wealth; how we behave when markets decline is what destroys wealth,” says Stephan Q. Cassaday of McLean-based Cassaday & Co. Photo by Will Schermerhorn
Nov 29, 2022

Staying the course

A tanking economy. Rampant inflation. Whiplash in the stock market. What’s an investor to do? Look for opportunities to rebalance portfolios but, in general, hang tight, wealth management professionals say. Or, as one adviser says, buckle up for a roller coaster ride. The economy is likely to worsen, experts say, and despite dickering among economists […]

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