The US recession that JPMorgan economists forecast a week ago will be worse than expected, the bank said in a Wednesday note. The bank revised its first-half gross-domestic-product estimates lower, citing recent developments in the coronavirus outbreak and containment measures' economic costs. JPMorgan dragged its first-quarter growth estimate to -10% from -4% and dropped its second-quarter estimate to -25% from -14%. A recession is commonly defined as two consecutive quarters of negative GDP growth. The pandemic will also push unemployment as high as 8.5%, the bank said, echoing record-high unemployment data ... (full story)