Story perspectives

Market Turmoil: Fed Prepares Amid Economic Downturn

3/14/2026

Summary

Story summary

The Federal Reserve is preparing for its March meeting as oil prices rise.
The U.S. fourth-quarter gross domestic product was revised down to 0.7 percent.
Canada reported its worst job losses in over four years.
The Standard & Poor's 500 (S&P 500) hit a new low.
Eurozone industrial production fell 1.5 percent, while core PCE remains at 3.1 percent.

History

Historical Context

The Great Recession, officially lasting from December 2007 to June 2009, marked the worst economic downturn since the Great Depression, with U.S. GDP contracting by 4.3%. Triggered by the subprime mortgage crisis, it resulted in the loss of approximately 8.7 million jobs. Today, rising oil prices and a declining S&P 500 reflect ongoing economic instability reminiscent of that era, highlighting persistent challenges in job recovery and inflation management.

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Story summary

The Federal Reserve is preparing for its March meeting as oil prices rise.
The U.S. fourth-quarter gross domestic product was revised down to 0.7 percent.
Canada reported its worst job losses in over four years.
The Standard & Poor's 500 (S&P 500) hit a new low.
Eurozone industrial production fell 1.5 percent, while core PCE remains at 3.1 percent.

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