Listed here are some vital developments:
- Federal Reserve leaders predicted a slow recovery for the U.S. economy, with unemployment falling to 9.Three p.c by the top of this 12 months and 6.5 p.c by the top of 2021.
- The tech-heavy Nasdaq closed above 10,000 for the primary time, persevering with a three-day streak of setting data. However the Dow Jones industrial common and the Customary & Poor’s 500 index slid for the second day in a row.
- The Group for Financial Cooperation and Growth issued a report through which it stated, “The worldwide economic system is now experiencing the deepest recession because the Nice Melancholy within the 1930s.” The U.N. physique projected the economic system is on observe to shrink by not less than 6 p.c by the top of 2020.
- The European Union accused China of making a concerted effort to spread disinformation about the coronavirus, its highest-level and most forceful criticism but of Beijing’s messaging in regards to the outbreak.
- Searching for a metropolis keen to permit a large-scale occasion amid the pandemic, Republicans have tentatively settled on Jacksonville, Fla., as the new destination for the premier festivities of the Republican National Convention in August, in keeping with three Republican officers briefed on the plans.
- A British examine from researchers at Cambridge and Greenwich universities in Britain says that if everybody wears masks in public it might be sufficient to stave off a second wave infections with out requiring renewed lockdowns.