WASHINGTON — As the coronavirus outbreak enters a potentially dangerous new phase, with cases widening in Europe and expected to spread in the United States, economists have begun to raise their estimates for the risk of a global recession and fallout to the American economy.Economists say the stock market sell-off during the week reflects a reassessment of the likely magnitude of the hit to corporate earnings in the virus’s wake — suggesting the economic pain could last longer and the recovery may not be as swift as initially thought.“Businesses of all kinds, in a lot of places, being impaired really (made) me skeptical that this is something that would fade quickly and from which we would recover quickly,” said Carl Tannenbaum, chief economist at Northern Trust in Chicago.

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Topics:  Iowa   Linn County   Cedar Rapids   
  • One person injured in Cedar Rapids shooting Saturday
    One person was taken to a hospital with non-life threatening injuries after a shooting Saturday near Bever Avenue and 21st Street SE in Cedar Rapids.Just before 5 p.m., Cedar Rapids police responded to 2039 Bever Ave. SE, where they found the victim outside and provided medical treatment along with the Cedar Rapids Fire Department and Area Ambulance Service. More
  • Iowa election officials pushing vote by mail for June primary
    DES MOINES — There will be a June 2 primary election in Iowa, elections officials pledge.But those officials are encouraging voters to submit their ballots early through the mail in order to sidestep voting in-person on Election Day while the state still may be dealing with the novel coronavirus pandemic. More
  • Shots fired in Iowa City; apartment damaged, no injuries
    No one was injured after a shots were fired at an Iowa City apartment complex Friday night.According to media release from the Iowa City Police Department, at approximately 9 p.m. Friday officers responded to the area of Miama Drive and Arizona Avenue for reports of multiple gunshots heard nearby. More
  • Winning prestigious award tells University of Iowa grad to keep writing
    Andrea Lawlor, author of “Paul Takes the Form of a Mortal Girl,” and I spoke by phone a few hours before it was announced that the University of Iowa alum had garnered the prestigious Whiting Award. The award, given annually to 10 emerging writers in fiction, non-fiction, poetry and drama, comes with a $50,000 prize. More
  • Iowa prison crowding raises stakes on COVID-19 transmission
    While Eastern Iowa jails have cut their inmate populations by nearly 30 percent in recent weeks, Iowa’s prisons still are more than 20 percent over capacity — leaving prisoners strikingly susceptible to the highly-contagious coronavirus if it were to start spreading inside. More
  • The Latest: Canadian military prepping Quebec to fight virus
    India is adding more resources to tackle its increase in coronavirus cases by announcing that private hospitals may be requisitioned to help treat virus patients, and turning railway cars and ...
    04/2/2020 - 6:46 pm | View Link
  • The Daily 202: Trump’s warning to Iran underscores risk of global instability amid coronavirus pandemic
    Now, every day feels like a year when our neighbors are dying in droves from the novel coronavirus and our economy stands on the precipice of a possible depression. The Labor Department announced this ...
    04/2/2020 - 4:39 am | View Link
  • Coronavirus updates: U.S. virus cases surpass 200,000
    More than 200,000 people have been ...
    04/1/2020 - 9:04 am | View Link
  • The 12 Safest Dividend Aristocrats To Buy During This Recession
    My goal is to always provide you with the best evidence based long-term strategies for achieving their your financial goals. The latest economic news surroundin ...
    03/23/2020 - 8:43 am | View Link
  • Coming Recession Will End Decade-Long Boom and Test California’s Resiliency
    What we know so far: The coronavirus is almost certainly causing the first pandemic-induced recession of the postwar era ... And many of her clients are of an age that puts them at higher risk of ...
    03/23/2020 - 8:30 am | View Link
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  • Jobs Destroyed Worldwide as Virus Triggers Deep Recession ...
    Failure would risk an even deeper recession or weak recovery that would require policy makers to consider yet more stimulus on top of that already deployed. ... economists predict their measure of ...
    04/3/2020 - 5:58 pm | View Website
  • Economists see growing recession risk as coronavirus ...
    Economists see recession risk with COVID-19 The Los Angeles Times reported as the coronavirus outbreak enters a potentially dangerous new phase, with cases widening in Europe and expected to spread...
    04/1/2020 - 4:42 pm | View Website
  • Recession risk increases as coronavirus spreads ...
    Recession risk increases as coronavirus spreads globally, economists say As the coronavirus outbreak enters a potentially dangerous new phase, with cases widening in Europe and expected to spread...
    04/1/2020 - 4:20 pm | View Website
  • Economists see growing recession risk as coronavirus ...
    Economists see growing recession risk as coronavirus spreads in US and elsewhere Some commuters at Union Station adorn breathing masks in Los Angeles last month. Irfan Khan, Los Angeles Times This...
    04/1/2020 - 3:59 pm | View Website
  • Economists Are Losing Hope in a ‘V-Shaped’ Post-Virus Recovery
    The coronavirus is guaranteed to throw the world into recession, but economists are becoming less convinced about the potential for a strong snapback in growth. The base case for forecasters is...
    03/31/2020 - 4:36 pm | View Website
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