By Mike Adams Published 15 May 2020
As officials around the world explore ways to safely loosen pandemic restrictions, some countries that had already reopened are closing down again after sudden spikes in infections. Among the latest: Saudi Arabia, which announced a total lockdown for the end of Ramadan after new cases soared during the holy month.
Federal Reserve Chair Jerome H. Powell said the U.S. economy could be in store for a long and painful recession if Congress and the White House do not push more aid through soon. Fed chairs typically refrain from telling Congress what to do, but Powell said in a video conference that the country is in the midst of the “biggest shock our economy has felt in modern times” and the potential for mass waves of business closures and bankruptcies could diminish growth for years to come.( WP )
