Big banks expect the coronavirus recession to cut a wide swath through corporate America. When they reported second-quarter earnings this past week, big U.S. lenders said they don’t expect the U.S. economy to pull out of its slump soon. A protracted downturn, bank executives said, bodes poorly for all manner of American businesses, even those not directly affected by the travel bans and social-distancing measures put in place to curb the virus.

Source: Wall Street Journal July 18, 2020 09:33 UTC