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A view of Bourbon Street amid the outbreak of the coronavirus disease (COVID-19), in New Orleans, Louisiana, U.S. March 25, 2020.

‘The deepest recession on record’: Bank of America slashes forecasts, now sees up to 20 million jobs lost, 15.6% unemployment, and a shrin...

"There is more to come," the BofA economist Michelle Meyer said. "Given the severity of the downturn, we think more fiscal stimulus will be needed."
The Reflecting Pool which has been drained for maintenance is seen in front of the Washington Monument in Washington, DC on March 26, 2020.

Goldman Sachs slashes forecasts for next quarter, now sees 34% GDP contraction and 15% unemployment

"Sky-high jobless claims numbers" and the $2 trillion stimulus bill contributed to Goldman's forecast of "a deeper trough" and "a bigger rebound."

Dow slips 175 points as investors weigh the continued spread of coronavirus

Major banks have slashed GDP forecasts as spiking unemployment and mounting virus cases punts an economic recovery further into 2020.
A man with a face mask crosses a street in Brooklyn, New York, United States on March 25, 2020.

JPMorgan slashes its GDP forecast for next quarter, now sees a 25% contraction and an imminent recession despite ‘Herculean’ stimulus meas...

The bank kept its estimates for an economic rebound in the second half of 2020, noting tight financial conditions offset hopes for a sharp recovery.

US unemployment could surge to 30% next quarter and GDP might plunge 50%, Fed’s Bullard warns

"It is a huge shock and we are trying to cope with it and keep it under control," St. Louis Fed chief James Bullard told Bloomberg.

The worst global recession since World War II: Deutsche Bank just unveiled a bleak new forecast as coronavirus rocks economies worldwide

The firm attributed its estimates to coronavirus' rapid spread throughout Europe and the US and the faster-than-expected plunge in economic activity.
Empty street is seen in Manhattan borough following the outbreak of coronavirus disease (COVID-19) in New York City

Goldman Sachs officially predicts a coronavirus-driven recession will hit the US, sees GDP shrinking 5% in 2nd quarter

The coronavirus' hit to economic activity will most intensely drag on the travel, entertainment, and restaurant sectors, Goldman analysts wrote.
Photo shows an empty classroom at an elementary school in Osaka on March 2, 2020.

Coronavirus-related school closures could erase 1.5% from GDP this year, new report says

"The most important economic impact of this will be the direct reduction in output due to parents taking time off work," wrote Capital Economics.

Another global authority slashes its growth forecast to near-standstill levels, as experts brace for the worst economy since the financial crisis

The respiratory illness COVID-19 has spread to at least 76 countries, upending global supply chains and broader business activity.

US economic growth could halve this year in even the softest coronavirus scenario, top research firm says

The Brookings Institution laid out three projections for a coronavirus pandemic, with the harshest estimating a $9 trillion hit to global growth.