Jobless Claims, Central Bank Limits, $5 Trillion Loss: Eco Day

(Bloomberg) -- Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Expect another dizzying print for U.S. jobless claims. Bloomberg Economics expects another 5 million filings for the week ending April 4, after a record 6.65 million the previous week. The historic surge is leaving America’s safety net in shreds
• The Federal Reserve is being pushed to its boundaries as it fights to support the economy. Its counterpart in the U.K. is already in a contentious position as the nation’s Treasury plans to temporarily increase emergency borrowing from an overdraft at the central bank
• The coronavirus pandemic is set to rob the global economy of more than $5 trillion of growth over the next two years, greater than the annual output of Japan
• Officials from Rome to Washington are urgently mapping out plans to loosen lockdowns and begin rebooting their economies, but there’s no master plan
• As Turkey runs dangerously low on foreign-currency reserves and its economy succumbs to a recession, President Recep Tayyip Erdogan may be forced to break economic taboos that put the country back into the West’s sphere of influence
• Britons are seeking out the kind of agriculture jobs usually performed by immigrants
• Businesses are seizing on vague definitions and lax enforcement to stay open during shutdowns
• Finally, don’t miss this week’s episode of the Stephanomics podcast

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