The worst phase of the pandemic crisis in the US may be easing, but economic projections for the immediate future remain grim. Recent estimates for the upcoming second-quarter report for GDP tell the story—a tsunami of deeply negative projections. Amid the macro darkness, the Federal Reserve today, as part of a monetary statement, is scheduled to release its own set of revised economic projections.

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White House adviser says new stimulus bill odds ‘are very, very high’: WSJ
OECD considers economic impact of a second coronavirus wave: Bloomberg
Worrisome Covid-19 trends in India, Brazil and South Africa: Vox
Consumer inflation in China slowed to 14-month low in May: Caixin
China’s industrial deflation continued to deepen in May: MW
What’s expected for today’s Federal Reserve meeting? CNBC
Pandemic threatens to upend business models for retail properties: NY Times
Small Business Optimism Index in the US rebounded moderately in May: NFIB
US job openings fell to a five-year low in April: CNBC