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With the U.S. economy showing signs of slowing, Federal Reserve policymakers are divided over how to respond.

Forecasters say the government's aggressive efforts to curtail the spread of the virus will trigger the sharpest slowdown on record. Some see the economy shrinking a staggering 24%.

The Federal Reserve chairman is testifying before Congress this week about challenges the economy faces. Stocks rallied in anticipation the central bank will lower interest rates later this month.

The Commerce Department reports the economy had its worst showing in a quarter-century. U.S. gross domestic product dropped at a 3.8 percent annual rate in the last three months of 2008. The GDP report shows the grim toll of the housing, credit and financial crises.

Stock markets around the world plunged this week as investors absorbed more evidence that China's economy is slowing. In the US, the Dow suffered its worst week since 2011.

Bonds are being pummeled as investors fear interest rates will stay higher for longer because of high inflation. That will raise borrowing costs across the economy even more.

Exports of goods and services have been one of the bright spots in the lackluster U.S. economy lately, growing much faster than almost anything else. But other economies are slowing. David Greene talks to David Wessel, economics editor of The Wall Street Journal, for a check on the global economy.

Ukraine's economy is battered by Russia's full-scale invasion, but its consumer economy is still running — especially the country's popular sushi restaurants, where cream cheese is a key ingredient.

Treasury Secretary Janet Yellen is sounding the alarm about the damage a government shutdown could do to the U.S. economy. "It's really reckless and will impose immediate harm," Yellen told NPR.

Economic data show higher prices and constant warnings of a downturn haven't slowed down American shoppers. The Fed is anxious. Companies are thrilled.