Economic outlook

FILE - In this Aug. 16, 2019 file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange. JPMorgan Chase & Co. reports financial results on Tuesday, April 14, 2020. (AP Photo/Richard Drew, File)
April 14, 2020 - 9:49 am
NEW YORK (AP) — JPMorgan Chase said Tuesday that its first-quarter profit plunged nearly 70%, as the bank was forced to set aside billions of dollars to cover potential losses tied to the coronavirus pandemic. The New York-based bank put $8.29 billion in reserve to cover potentially bad loans, up...
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April 12, 2020 - 2:01 pm
MEXICO CITY (AP) — The new coronavirus pandemic could send economies tumbling by 4.6% this year across Latin America and the Caribbean, forcing governments to take ownership stakes in struggling major businesses, according to a World Bank report issued Sunday. The bank’s Latin America and Caribbean...
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FILE - In this March 18, 2020, file photo, the Washington Monument and the U.S. Capitol are seen in Washington, at sunrise. Congress is considering ways to govern from afar during the coronavirus pandemic. Lawmakers are talking this week about whether it's possible to conduct virtual committee meetings, particularly to oversee how the $2.2 trillion stimulus money is being spent. And they're considering ways to pass virus-related legislation without requiring every lawmaker to be present. (AP Photo/Carolyn Kaster, File)
April 10, 2020 - 2:30 pm
WASHINGTON (AP) — The federal government's budget deficit for the first half of this budget year totaled $743.6 billion, up 7.6% from last year, and well on its way to topping $1 trillion even before the impacts of the coronavirus were felt. The Treasury Department reported Friday that the deficit...
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FILE - In this Feb. 14, 2020 file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said Friday, March 27, it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. She said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage(AP Photo/Jens Meyer, File)
April 09, 2020 - 3:44 pm
WASHINGTON (AP) — The coronavirus pandemic will push the global economy into the deepest recession since the Great Depression, with the world's poorest countries suffering the most, the head of the International Monetary Fund said Thursday. “We anticipate the worst economic fallout since the Great...
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In this image taken from video provided by the New York Stock Exchange, Tommy Gannon, Assistant Supervisor, Facilities, rings the opening bell at the NYSE, and recognizes the Sodexo food services staff at Beth Israel Deaconess Medical Center in Boston, Tuesday, April 7, 2020, in New York. (New York Stock Exchange via AP)
April 07, 2020 - 5:32 pm
NEW YORK (AP) — A big rally on Wall Street suddenly vanished Tuesday, the latest twist for a market dominated by sharp swings amid the coronavirus outbreak. The S&P 500 dipped 0.2% after erasing a surge of 3.5% earlier in the day. The market’s gains faded as the price of U.S. crude oil abruptly...
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Mexican President Andres Manuel Lopez Obrador speaks at the National Palace in Mexico City, Sunday, April 5, 2020. López Obrador spoke to the nation about his economic recovery plan. The President, however, has labeled the situation a "transitory crisis" and says things will be good again soon. Mexico's government has broadened its shutdown of "non essential activities," and prohibited gatherings of more than 50 people as a way to help slow down the spread of COVID-19. (AP Photo / Eduardo Verdugo)
April 05, 2020 - 8:12 pm
MEXICO CITY (AP) — Mexican President Andrés Manuel López Obrador said Sunday there will be no huge economic stimulus program as the country faces the threat of coronavirus-induced crisis almost certainly unlike any it has seen in the past century. Instead, the administration will expand social...
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A pedestrian walks by The Family Barbershop, closed due to a Gov. Gretchen Whitmer executive order, in Grosse Pointe Woods, Mich., Thursday, April 2, 2020. The coronavirus COVID-19 outbreak has triggered a stunning collapse in the U.S. workforce with millions of people losing their jobs in the past two weeks and economists warn unemployment could reach levels not seen since the Depression, as the economic damage from the crisis piles up around the world. (AP Photo/Paul Sancya)
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April 03, 2020 - 4:50 pm
WASHINGTON (AP) — A grim snapshot of the U.S. job market's sudden collapse emerged Friday with a report that employers shed hundreds of thousands of jobs last month because of the viral outbreak that's brought the economy to a near-standstill. The loss of 701,000 jobs, reported by the Labor...
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A carpenter, who declined to be identified, cuts plywood to cover a closed store where artwork in support of people affected by the coronavirus already covers an adjacent panel in downtown Seattle, Thursday, April 2, 2020. The number of people seeking unemployment benefits in Washington set a new record last week, with tens of thousands more people in the state filing new claims as non-essential businesses remain closed due to the ongoing coronavirus pandemic. (AP Photo/Elaine Thompson)
April 03, 2020 - 7:09 am
WASHINGTON (AP) — After a record 113 straight months of hiring, the government's monthly jobs report Friday is expected to show that the American jobs machine came to a sudden halt in March as a result of the coronavirus. Economists have forecast that the government will say employers shed about...
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An employee of a bank wearing a face mask watches the computer monitors at the foreign exchange dealing room in Seoul, South Korea, Tuesday, March 31, 2020. Asian shares surged Tuesday after a rally in U.S. stocks, mostly spurred by health care companies' announcements of developments that could aid in the coronavirus outbreak. (AP Photo/Lee Jin-man)
March 30, 2020 - 11:36 pm
TOKYO (AP) — Asian shares surged Tuesday after a rally in U.S. stocks, mostly spurred by health care companies' announcements of developments that could aid in the coronavirus outbreak. Japan's benchmark Nikkei 225 rose 0.8% in morning trading to 19,243.91. Australia's S&P/ASX 200 added 2.0% to...
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Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, takes the podium to speaks about the coronavirus in the Rose Garden of the White House, Monday, March 30, 2020, in Washington, as President Donald Trump listens. (AP Photo/Alex Brandon)
March 30, 2020 - 11:16 pm
WASHINGTON (AP) — The two doctors spread out their charts on the Resolute Desk in the Oval Office. The projections were grim: Even if the U.S. were to continue to do what it was doing, keeping the economy closed and most Americans in their homes, the coronavirus could leave 100,000 to 200,000...
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