Lower storm surge and New Orleans’ improved levee system increased the city’s resistance to the storm, as Ida is projected to cause less of a financial blow than a larger Hurricane Katrina did 16 years ago. On a national scale, experts project a likely downgrade for annual U.S. economic growth for the third quarter of 2021. Gas prices are expected to rise slightly. [Associated Press]

The reduction in buying government-backed bonds is the first step to moving toward a more normal policy, as officials have been debating when to do so. Powell said as the central bank continues to monitor risks posed by the Delta COVID-19 variant, interest rates would remain low for the foreseeable future. [The New York Times]

In a program that begins in November, Delta Airlines became one of the first companies to announce a $200 health-insurance surcharge for unvaccinated employees. Chevron is requiring some workers to be vaccinated and is considering a company-wide mandate, while Walt Disney Company will require workers to show proof of vaccination at Disney World in Orlando, Fla. [The Wall Street Journal]

London adopted a similar congestion charge in 2003. In studies since, surveys have found that citizens find that it reduces traffic congestion, allows cities to improve the quality in public transportation, and it has improved overall quality of life. Some economists have long advocated for a congestion charge, noting that each driver on the road imposes a burden on other drivers. However, economists warn that the practice needs to be put into practice carefully to avoid harming lower-income families. [The Wall Street Journal]