The fresh policymaker projections start to show just how long that might take. At the median, officials see the unemployment rate falling to 6.5 percent at the end of 2021 and 5.5 percent at the end of 2022 – still a full 2 percentage points above where it was at the end of last year, representing millions of lost years of work and wages.“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 policy statement.The response has been an unparalleled level of unanimity in the outlook for monetary policy. All 17 current Fed policymakers see the key overnight interest rate, or federal funds rate, remaining near zero through next year, and 15 of 17 see no change through 2022.Even in the depths of the 2007-2009 financial crisis and recession some policymakers raised a cautionary flag about the need for higher interest rates to guard against inflation.This time that debate has disappeared. The Fed’s preferred measure of inflation is expected to be a weak 0.8 percent this year, compared to the central bank’s goal of 2 percent, and rising to just 1.7 percent at the end of 2022.At this point “we are not even thinking about thinking about raising rates,” Powell said.The decision to leave the policy rate unchanged on Wednesday was unanimous. The central bank also began shaping the longer-term measures it will use to keep the recovery as strong as possible. Officials promised to maintain ongoing Fed bond purchases at least at the current pace of around US$80 billion per month in Treasuries and $40 billion per month in agency and mortgage-backed securities – levels that may be increased later, or supplemented with other strategies.While growth may resume this year, policymaker forecasts show the rebound beginning in earnest in 2021, with economic growth for the year forecast at 5 percent.Notably, the Fed did not mark down its long-run estimates of full employment, trend growth or the federal funds rate, a sign officials feel the country may escape permanent economic damage from a health crisis that has killed more than 112,000 in a few months.“Their messaging is we are keeping rates low, but this is going to work, it is going to get us there,” said Bruce Monrad, chairman and portfolio manager at Northeast Investors Trust in Boston.On Wall Street, which had been near unchanged ahead of the Fed’s statement, stock prices ended mixed. The benchmark S&P 500 index .SPX was down about 0.5 percent whereas the Nasdaq Composite was up about 0.7 percent. Yields on US Treasuries slipped and the dollar fell against a basket of currencies.The pledge to keep monetary policy loose until the US economy is back on track repeats a promise made early in the central bank’s response to the coronavirus pandemic.That response included cutting interest rates to near zero in March and making trillions of dollars in credit available to banks, financial firms, and a wide array of companies.Powell said that while much remains uncertain, particularly the progress of the pandemic, the fiscal and monetary response has been working well so far, maintaining income support for the unemployed and limiting business failures so far.More may be needed, he said.“This is the biggest economic shock in living memory,” Powell said. The response “has been large, forceful and very quick … In a class by itself.”Topics : The US Federal Reserve on Wednesday signaled it plans years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting the economy to shrink 6.5 percent in 2020 and the unemployment rate to be 9.3 percent at year’s end.In the first economic projections of the pandemic era, US central bank policymakers put into numbers what has been an emerging narrative: that the shutdowns, restrictions and other measures used to battle a health crisis will echo through the economy for years to come rather than be quickly reversed as commerce reopens.Some 20 million or more people have been thrown out of work since February, and Fed Chair Jerome Powell acknowledged it could take years for them to all reacquire jobs – an economic blow that is falling heaviest on minority communities at a time when mass protests over police brutality have thrown a new spotlight on racial inequality in the United States. Powell, acknowledging the nationwide demonstrations in his opening remarks at a news briefing, said it was now the Fed’s single-minded mission to bring the job market back to where it was at the end of last year, with the unemployment rate at a record low 3.5 percent and wage gains accumulating for some of the very same lower-paid workers in the service sector that have suffered most during the recent collapse.“Twenty-two, 24 million people – somehow as a country we have to get them back to work,” Powell said via video link after the end of the Fed’s latest two-day policy meeting. “They did not do anything wrong. This was a natural disaster.”“It is a long road. It is going to take some time,” he said. “We can use our tools to support the labor market and the economy and we can use them until we fully recover.”Years-long fight
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Render of the Dress Circle entrance“Brookwater has been about quality not quantity … the name Dress Circle was derived from the theatre, and basically means the best seats in the house,” he said. “Dress Circle is elevated, and has views over what is our centre stage, the Greg Norman-designed golf course.“For us, Dress Circle was about bringing together everything we have learned at Brookwater over the last 16 years and setting a new benchmark. Concierge services have been used in hotels, apartments, in the over-50s lifestyle resorts, but I am 98 per cent sure it’s never been done across a typical residential setting.”More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020 Render of a Dress Circle home overlooking the golf courseMr Kostellar said the 37ha site, which is surrounded by the golf course, could potentially be home to up to 890 dwellings, but less than 100 of those lots would have golf course frontage.The first stage will consist of 25 lots – seven with direct golf course frontage. Those golf frontage lots are “800sq m-plus” in size, and will cost an average of $585,000. Home sites without direct golf course frontage average 690sq m and $425,000.“We had over 175 registrations during the pre-launch phase and a high percentage of those indicated they had $850,000 to spend on house and land,” Mr Kostellar said.“Buyers can choose any builder they like … we have partnered with some of the best builders for our Street of Dreams (display village).“There will be a new landscape and architecture covenant which will ensure buyers are guided on design.” An example of a potential home at Dress CircleBrookwater has released its “best seats in the house”, with Dress Circle officially launched to the market.Residents who call the subdivision – which will consist of up to 890 dwellings – home, will have exclusive access to a concierge service, in what the developer believes is a national residential housing first.Brookwater general manager Nick Kostellar said Dress Circle was “the final chapter for Brookwater” – one of five suburbs that make up the Greater Springfield masterplan. Brookwater golf courseBrookwater is 35 minutes from the Brisbane CBD, and is part of the Greater Springfield development which includes Springfield, Springfield Lakes, Springfield Central, Springfield Rise and Augustine Heights. Various developers are working in each suburb.The extension of the rail line to Springfield Central, the opening of the Orion Shopping Centre and the University of Southern Queensland campus, and the opening of a number of businesses and employment hubs, has seen the population of Greater Springfield boom, with 138,000 people expected to call it home once completed.Mr Kostellar said Dress Circle would offer buyers the chance to build their dream home in Brookwater’s “most enviable address”.He said they had started clearing the site, and hoped to start construction on stages one and two by August.
Drumkeen Community ChildcareDrumkeen Community Childcare Parents Committee will be having a Cake Sale and Fun Day in the Parish Hall in Drumkeen on Easter Sunday 20th April from 11.00am to 1.00pm. There will be plenty of tasty treats to take home or enjoy in the hall with a cup of tea or coffee while the children enjoy the bouncy castle provided by Aisling McKelvey. There will also be an Easter Draw with many great prizes. Tickets for the draw will be available on the day but also in local shops, and from parents of children in Drumkeen Community Childcare prior to the event. Come along to enjoy a fun afternoon for all the family, everyone welcome! Easter CommemorationThe Drumkeen Easter commemoration will take place this Sun 20th April at 2 pm at the local Hunger Strikers monument. All welcome.Titanic Dance The locally produced show Titanic Dance is coming to the Odyssey in Belfast on Sat 10th of May. The show was created by Raymond Sweeney and Louise Hayden, both former Lord of the Dance principle dancers. A love story set on the Titanic’s first and final fateful voyage.We are hoping to take a bus to the show in Belfast leaving early on the Sat morning to allow for a little shopping/sightseeing in the city centre before attending the show at 8 pm. The bus will return home immediately after the show. Phone Bridget on 074 9134069 or Maeve on 086 3940761 for further details.Drumkeen Youth ClubHuge thanks to everyone who supported our Easter quiz, another fantastic success. Well done to all who helped organise the event, thanks to all the sponsors and congratulations to the winners. No youth club this Fri 18th (Good Friday) Hope you all have a great Easter.Spinning/Circuits/BoxerciseSpinning classes continue mornings and evenings, also circuit training and Boxercise? There is something to suit everyone just give Benny a call on 086 4562271 for details or check out our Facebook page AB Fitness.Charlie Daly & H-Block Martyrs Sinn Féin Cumann Drumkeen Lotto Results 09th Apr 04,08,20,21. No jackpot winner. 1 winner €100 Stephen Mc Kinney Castlefin. Next week’s jackpot €2,250. Go raibh maith agat.Sponsored SkydiveNew date for the Skydive is Sun 20th April. All proceeds going to Our Lady’s Hospital for sick children Crumlin, donations big or small would be greatly appreciated. Contact Julie on 086 1958421 or email [email protected] if you would like to donate.Jiving Classes Jiving classes continue in the parish hall every Monday from 9pm-10pm. For more information contact Aaron on 086 2431359.Parish HallAnyone wishing to book the hall should contact Charlie Quinn on 91/34010 or 087 7728608Drumkeen NotesAnyone wishing to have material included for next weekPlease Email: [email protected] or text 086 4083625 (Deadline Fri @ 8pm)DD LOCAL – DRUMKEEN COMMUNITY CHILDCARE TO HOST FUN DAY was last modified: April 13th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:Drumkeen Local Notes