Jamie Dimon's warning for the U.S. economy — nobody knows what comes next More than four months into the coronavirus pandemic, the financial damage wrought by the outbreak has yet to fully register. Hugh Son CNBC

• The range of outcomes for the economy in the second half is incredibly wide: JPMorgan Chase sees no fewer than five different paths it can take.
• The bank has gotten more pessimistic, seeing unemployment in its default “base” scenario hitting nearly 11% by the end of this year, 4.3% worse than when it made the same forecast in April.

New York Times

Hong Kong, Spain, and Melbourne, Australia, are seeing resurgences. The U.S. recorded nearly 70,000 new cases, and President Trump canceled part of the Republican National Convention.

Trump administration renews public health emergency after urging from states The news will come as a relief to health care groups who worried the declaration might not be renewed before it lapses July 25 POLITICO

The Trump administration has renewed the public health emergency for the coronavirus, ensuring that critical resources to fight the pandemic can continue while much of the country battles rising caseloads.