Federal Reserve survey shows worst recession since 1930s may be over

WASHINGTON — The recession is ending and the economy is finally growing again. That’s the message implicit in the Federal Reserve’s latest survey of businesses around the country, which found economic activity stabilizing or improving in most regions.

Study shows cities cut jobs and hours, raise taxes and fees to deal with economic downturn

NEW YORK — The economic downturn has taken a toll on U.S. cities, forcing them to slash jobs, raise taxes and fees and limit hours of operation at libraries, zoos, parks and other popular facilities, according to a survey.

Fed observers mostly welcome Bernanke’s reappointment but say he should build a new legacy

WASHINGTON — Analysts, lawmakers and the financial industry generally reacted positively to news that Ben Bernanke would be re-nominated as Federal Reserve chairman. But some offered a dose of constructive criticism.

Obama announces plan to keep Bernanke as chairman of Fed to continue economic recovery

OAK BLUFFS, Mass. — President Barack Obama announced Tuesday he wants to keep Ben Bernanke on as Fed chairman, saying he shepherded America through the worst economic crisis since the Great Depression.

Happy with his work, Obama reappoints Ben Bernanke for second term as head of Federal Reserve

OAK BLUFFS, Mass. — President Barack Obama has announced he wants Ben Bernanke to get a second four-year term as head of the Federal Reserve, praising his “calm and wisdom” in the face of a near financial collapse.

AP source: Obama plans to keep Bernanke as chairman of Fed to continue economic recovery

OAK BLUFFS, Mass. — President Barack Obama plans to reappoint Ben Bernanke to a second term as chairman of the Federal Reserve, a position from which he guided the economy away from its worst recession since the 1930s and, the White House hopes, toward an economic recovery critical to its legacy.

Unexpected drop in July retail sales, rise in new jobless claims point to strained recovery

WASHINGTON — Retail sales disappointed in July and the number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week. The latest government reports reinforced concerns about how quickly consumers will be able to contribute to a broad economic recovery.

Housing begins to reverse 3-year recession in every US region, but 2nd half looks rocky

It was — note the past tense — the worst housing recession anyone but survivors of the Great Depression can remember.

Congress acts to keep highway, unemployment, mortgage programs from running dry

WASHINGTON — The House, doing some billion-dollar housekeeping before it leaves for the August recess, is taking up legislation to keep recession-hit federal programs that support highway projects, state unemployment insurance and mortgage loans from running dry.

As unemployment marches higher, foreclosures surge, threatening Obama plan

WASHINGTON — Relentlessly rising unemployment is triggering more home foreclosures, threatening the Obama administration’s efforts to end the housing crisis and diminishing hopes the economy will rebound with vigor.

Democrats at odds with industry on proposed agency to police consumer financial market

WASHINGTON — Democrats are pressing the Obama administration to find a way out of the foreclosure crisis as they moved ahead with plans to create a government agency that would police the market for risky or deceptive mortgages.

AP News in Brief