WHAT'S BREWING
EX-FED CHAIR: UNEMPLOYMENT MAY HIT DEPRESSION LEVELS “Unemployment rates for a time may go to Depression levels. But this is very different than the Great Depression or the recession in the U.S. economy that we experienced in 2009 and after,” Janet Yellen, who chaired the Fed under President Barack Obama, said on CNBC. "If we’re successful in supporting people’s incomes during this time ... I believe we will be able to get back to a normally functioning economy in much shorter order," she added. [HuffPost]
JPMORGAN'S JAMIE DIMON RIPS BOTCHED VIRUS PLANNING In a veiled swipe at the Trump administration, JPMorgan Chase CEO Jamie Dimon wrote in an annual letter to shareholders: “As a nation, we were clearly not equipped for this global pandemic, and the consequences have been devastating.” Dimon predicted a “bad recession.” The worst-case scenario could see unemployment as high as 14% and gross domestic product plunging at a 35% annual rate in the second quarter, he warned. [HuffPost]
INDUSTRY ASKS CALIFORNIA TO DELAY POLLUTION RULES Industry groups have sent at least six letters to California officials in the past two weeks requesting delays or modifications to new pollution limits on the oil and gas, transportation, building and agriculture sectors, according to documents shared with HuffPost. The rules are set to go into effect later this year, but industry is asking to push back or indefinitely delay those dates because of the economic stress the COVID-19 pandemic. [HuffPost]
UN CHIEF CONDEMNS 'HORRIFYING SURGE' IN DOMESTIC VIOLENCE The United Nations secretary-general warned that “we have seen a horrifying global surge in domestic violence,” and urged world leaders to include protective measures in their pandemic plans. “For many women and girls, the threat looms largest where they should be safest: in their own homes,” António Guterres said in a video. “I urge all governments to make the prevention and redress of violence against women a key part of their national response plans for COVID-19.” [HuffPost]
POLICE HUNT WOMAN 'WILLINGLY SPREADING' COVID-19 Police in Texas are asking people to help them track down a young woman who claims to have COVID-19 and is “willingly spreading” it. Carrollton police say they plan to charge Lorraine Maradiaga, 18, with terroristic threats after she posted a series of worrisome and bizarre videos on Snapchat over the weekend. [HuffPost]
CONFUSION PLAGUES FULBRIGHT SCHOLARS CALLED HOME When several dozen Fulbright grantees gathered in Amman, Jordan, for a meeting about their program’s status on March 15, some were still optimistic they could stay. All U.S. Fulbright programs worldwide — which provide grants for thousands of academics, students, artists and professionals to study or teach at global universities — were suspended on March 19. [HuffPost] |
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