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Allston-Brighton restaurants, all city beer gardens called in to ’emergency’ license hearings

The conditions may differ in other countries, he continued, but will still be "severe on growth.

New Boston University policy to award posthumous degrees not triggered by pandemic, says college Chat with us in Facebook Messenger. Find out what's happening in the world as it unfolds.Dire economic data released by China on Monday showed that the country was "Whereas 10 days ago there was some legitimate uncertainty about whether the global economy was in the process of going into recession — 10 days later, there's no question that it is," David Wilcox, former head of research and statistics at the Federal Reserve Board, told CNN Business. Rick Sobey is a multimedia, general assignment reporter -- covering breaking news, politics and more across the region. Donald Trump responds to Boston Fed chief’s comments on slow recovery: ‘We got to open up’ He was most recently a reporter at The Lowell Sun.

Italy, now the epicenter of the pandemic, has more than 24,000 cases. That would represent the deepest recession since the Second World War, with …

CLICK HERE TO TURN ON NOTIFICATIONS. AMC to offer 15-cent tickets on first day of reopening Per Capita Incomes to Shrink in All Regions . And as stock markets keep plunging, credit markets stay rocky and liquidity dries up, the consensus is building: We're now entering a global recession; it's just a question of how bad it will be.

He said his administration’s focus is on stemming the virus. Latest coronavirus recession news . Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. That is expected to start hitting the real economy, as consumers get nervous about their hard-hit stock portfolios and it becomes more difficult for businesses to borrow money. N.H. town braces for large religious gathering, warns Mass. She's not aloneThis small business stood for a century, but Covid-19 closed it in monthsShe lost her job in 2008.

“A broad range of public events are now being canceled across the globe.”Locally, Jon Hurst, president of the Retailers Association of Massachusetts, said the organization’s members are nervous about what’s going to happen in the short- and long-term.“They’re thinking about their employees and their profitability, and whether customers will come back,” Hurst said.The analysts with JPMorgan also cited the “markets spasm.” Monday was another rough day on Wall Street due to the coronavirus fallout as the Dow Jones Industrial Average tumbled nearly 3,000 points (13%), its largest point drop in history.“Financial conditions are tightening rapidly as perceptions of credit quality across a wide range of asset classes is deteriorating and liquidity has dried up,” the analysts wrote.Wells Fargo Securities said Monday it projects the U.S. economy will fall into a recession in the April-through-June quarter.Joel Prakken, chief U.S. economist at IHS Markit, projects the economy will shrink at a 5.4% annualized rate during the quarter, which would be its worst performance since the depths of the Great Recession.A significant part of the U.S. economy will be shut down because of all the social-distancing measures implemented in cities and states around the country, said Gary Hufbauer of the Washington, D.C.-based Peterson Institute for International Economics.Hufbauer said the timing of the economic recovery depends on adding more testing for coronavirus, finding a treatment that cuts down on the disease’s mortality rate, and developing a vaccine.President Trump said at a press conference Monday the U.S. “may be” headed toward a recession.

A recession is typically defined as two consecutive quarters or more of falling GDP, an outcome IHS Markit's chief US economist Joel Prakken is now predicting for the world's biggest economy in 2020.Meanwhile, financial conditions have deteriorated in recent days, making it harder for buyers and sellers to price assets as markets experience extreme volatility. All rights reserved.

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