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Food and oil supply damage will become inflationary in 12 months, says Goldman Sachs’ Jeff Currie.
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A New York study measuring the spread of Covid-19 found 13.9% of people tested had signs of the virus. Extrapolated to the statewide population, the results imply that about 2.7 million residents may have had the virus—about 10 times more than the official count based on the state’s testing of mostly very sick patients. Overall, U.S. cases rose at the slowest pace in three weeks, though Texas infections increased for a third day and California reported the most fatalities in one 24-hour period. Spain reported the greatest number of new cases and fatalities in almost a week, while Italy saw recoveries overtake new infections for the first time. This is the latest.