Treasury Secretary Mnuchin does not expect recession from the coronavirus

[tacobell fan]

• “Later in the year, obviously the economic activity will pick up as we confront this virus,” Mnuchin said Sunday. 
• Mnuchin’s comments came after the U.S. stock market tumbled last week, ending the longest bull market on record. 
• But others, such as former Federal Reserve Vice Chairman Alan Blinder and Gary Cohn, former White House economic advisor, think the U.S. is already in a recession. 

[r2d2]

Greenspan Thaatha em cheppaadu?

[sri_india]

JPMorgan officially forecasts a coronavirus-driven recession will rock the US and Europe by July

[sri_india]

• A new economic-growth estimate from JPMorgan projects that a recession will hit the US and European economies by July.
• The bank said its views of the coronavirus outbreak "have evolved dramatically in recent weeks." JPMorgan economists now expect US GDP to shrink by 2% in the first quarter and 3% in the second.
• Eurozone GDP could contract by 1.8% and 3.3% over the same periods, the economists added.
• The "sudden stop" to economic activity through quarantines, event cancellations, and social distancing contributed to the downward revision, alongside recent weeks of financial-market chaos.
• "As we resign ourselves to the inevitability of a large and broad-based shock," nations' economic policy responses are key to preventing an even longer downturn, the economists added.

[Sucker]

Tq. Intha kanna yem cheppagalam.