New York City Mayor Rudolph W. Giuliani yesterday named Michael G.
Carey, who had joined the EDC as its first vice president and general
"Michael has constantly demonstrated his knowledge of the city's
In his tenure at the EDC, Carey, the son of former New York Gov. Hugh
Carey has also worked on EDC real estate projects and led New York's
Carey has previously worked as a municipal banker with Cambridge
A couple of "bond-friendly" economic reports released Thursday could encourage the Federal Reserve to reduce interest rates in the near future, some analysts argued.
Rep. Scott Fitzgerald said PROMESA indicated PREPA needed to regain access to capital markets and suggested a deal with bondholders would aid this.
Federal Reserve Gov. Michael Barr said tariffs could have an outsize impact on small businesses and hardships could outlive the trade policy debate.
For most investors, partnership matters, said Jamie Doffermyre, head of public finance syndicate and origination at Truist Securities.
The agreement includes $12.6 billion in spending for the fiscal year that begins July 1 and an income tax cut estimated to cost $160 million.
Among the defeated referendums were three for bonds totalling $146 million.
