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.