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Covid-19 impact: US Fed officials see rates remaining low through 2022

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Washington: The US Federal Reserve on Wednesday repeated its promise of continued extraordinary support for the economy as policymakers projected a 6.5% decline in gross domestic product this year and a 9.3% unemployment rate at year's end."The ongoing public health crisis will weigh heavily on economic activity, employment and inflation in the near term and poses considerable risks to the economic outlook over the medium term," the Fed said in its latest policy statement.

The first policymaker economic projections since December see the overnight interest rate remaining near zero through at least 2022.Though much of the statement repeated language from its April meeting, the central bank did promise to maintain bond purchases at "the.

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Southern Ontario highway partially closed due to convoy demonstrations: police - globalnews.ca - Usa - Canada - city Detroit - county Windsor
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Southern Ontario highway partially closed due to convoy demonstrations: police
convoy demonstrations against COVID-19 measures.Police said the westbound lanes of the highway at Nauvoo Road have been shut down due to “high traffic volumes” from “freedom convoy” demonstrators.Drivers in the area are being asked to follow emergency detour route signage. Windsor-Detroit Ambassador Bridge access resumes after trucker protest blocked traffic “The OPP respects the right of everyone to freedom of expression and peaceful assembly,” police said.“The OPP asks everyone to be patient and respectful of each other despite potential inconvenience.”The closure is approximately 45 km away from the Blue Water Bridge crossing between Canada and the United States in Sarnia, Ont.It’s not clear if that’s where convoy demonstrators are intending to go.Part of Highway 402 was blocked on Sunday as well due to convoy demonstrations. Police have redirected commercial traffic to the Bluewater Bridge in Sarnia, Ont., and urged motorists to avoid the area around the Ambassador Bridge in Windsor, Ont.There, a protest against COVID-19 measures is blocking Canada-bound vehicles from crossing the Ambassador Bridge between Windsor, Ont., and Detroit for a third day.More to come.— With files from The Canadian Press#LambtonOPP have implemented a closure of westbound Highway 402 at Nauvoo Road to ensure public safety.
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