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Federal Reserve Chair Janet Yellen said the U.S. central bank expects to continue to raise interest rates gradually.

The Connecticut Education Association seeks an injunction, calling the governor's executive-order cuts illegal.

The federal funds rate target should continue rising gradually until reaching its “new normal of 2.5%,” Federal Reserve Bank of San Francisco President John Williams said Wednesday.

The mayor cited high reserves and bond ratings while challengers Nicole Malliotakis and Bo Dietl called his spending reckless.

Federal Reserve Governor Jerome Powell has canceled plans to speak at an event in Boston on Friday, a move the central bank described as a routine change in schedule.

The program to purchase and support affordable mortgages for New Yorkers will include an RBC unit and provisions for military veterans.

Randal Quarles was confirmed 65-32 as a Fed governor, and by voice vote as the vice chairman of banking supervision.

The Senate invoked cloture to begin the process of confirming Randal Quarles as a governor on the Fed board.

Puerto Rico’s debt cannot be canceled by order of the president, restructuring experts and a key congressman said.

President Donald Trump's budget chief said not to take the president's suggestion that Puerto Rico's debt would be "wiped out" literally, as the territory's bonds plunged to a record low on Wednesday.

President Donald Trump suggested that the government debt accumulated by bankrupt Puerto Rico would need to be wiped clean to help the island recover from the devastation caused by Hurricane Maria.

Federal Reserve Governor Jerome Powell deflected questions about his interest in succeeding Janet Yellen at the helm of the U.S. central bank when her term as chair expires on Feb. 3, 2018.

Paul Mortimer-Lee, chief market economist at BNP Paribas, discusses the leadership of the Fed and possible replacements for Janet Yellen.

The subway-improvement plan for New York triggered pushback from board members who say Gov. Andrew Cuomo is overreaching.

The economy will “probably not” rebound in the last half of 2017, according to Federal Reserve Bank of St. Louis President James Bullard, and don’t expect inflation to suddenly turn around either.

Luke Bronin called the latest multiple-notch downgrades no surprise.

Given the numerous uncertainties in the economy, gradual rate hikes remain the best course, Federal Reserve Board Chair Janet Yellen said.

Wide disparities in wealth and income remain in the U.S., Federal Reserve Governor Lael Brainard said.

Mitchell Katz will continue the reorganization plan for the beleaguered city unit, said the mayor.

Assured Guaranty and Build America Mutual presented city and state officials with an alternative to bankruptcy.