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The U.S. Department of Transportation secretary and elected leaders from New York and New Jersey pitched the $11.6 billion project, citing economic and safety concerns.

State and local government groups want the focus on reinstating tax-exempt advance refunding bonds and expanding the current financing tools.

President Joe Biden celebrated his tentative deal with a group of Democratic and Republican senators on a $579 billion infrastructure plan, saying it would create millions of jobs while fulfilling a major piece of his economic agenda.

Federal Reserve Chair Jerome Powell said the price increases seen in the economy recently are bigger than expected but reiterated that they will likely wane.

A discussion about raising interest rates is still quite a ways off as the Federal Reserve begins debating tapering its bond-buying program, New York Fed President John Williams said.

Federal Reserve Chair Jerome Powell said inflation had picked up but should move back toward the U.S. central bank’s 2% target once supply imbalances resolve.

Inflation risks may warrant the Federal Reserve beginning raising interest rates next year, St. Louis Fed President James Bullard said, backing an even-earlier liftoff than penciled in by many of his colleagues.

The Investment Company Institute on Wednesday reported $2.533 billion of inflows into municipal bond mutual funds, the highest since February.

The state sued after the Trump administration canceled federal funding already approved for the project.

With the mayor's race riveted on public safety, candidates discussed the city’s finances in a televised debate.

One of the city's most significant elections is also one of the strangest with a pandemic, an open seat, crime and financial strife, and ranked-choice voting at play.

A last-minute bill that would have authorized a split of board chairman and chief executive positions appears to have died in the state Senate.

Patrick Foye will leave as chairman and CEO, with Sarah Feinberg elevated to chairman and Janno Lieber becoming chief executive officer.

The California treasurer also suggests adding flexibility to federal rail grants ,which are typically reserved for government projects, to include jointly undertaken public-private partnerships.

If Congress does not act on the island’s Medicaid funding by the end of September, the funding shortfall would force officials to drop an estimated 800,000 people from the rolls.

Randal Quarles left open the possibility that he might remain in his role as a Federal Reserve governor after his tenure as vice chair for supervision expires on Oct. 13 — a move that would reduce the openings for the Biden administration to fill.

Skepticism continues, even as New York Gov. Andrew Cuomo led a cheerleading tour through the $11 billion project site under Grand Central Terminal.

The administration also wants to enhance the Low-Income Housing Tax Credit that is often used for bond-financed multifamily housing projects.

U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley described the proposal as “a good faith offer and a significant step in the right direction.”

Given that subway safety concerns could impair a rebound from COVID-19, recent spikes in crime and levels of policing triggered spirited discussion at a board meeting.