Listed here are some important developments:
- Federal Reserve leaders predicted a slow recovery for the U.S. economy, with unemployment falling to 9.Three % by the tip of this 12 months and 6.5 % by the tip of 2021.
- The tech-heavy Nasdaq closed above 10,000 for the primary time, persevering with a three-day streak of setting information. 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 Improvement issued a report during which it mentioned, “The worldwide financial system is now experiencing the deepest recession because the Nice Despair within the 1930s.” The U.N. physique projected the financial system is on observe to shrink by at the very least 6 % by the tip 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 prepared 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 accordance 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.