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With prospects of federal aid waning, an $8 billion revenue gap will leave the the state government and Gov. Andrew Cuomo few attractive options.

Several scenarios exists offering different potential outcomes, according to an observer.

The pandemic has magnified the woes of New York City’s public hospital system — long a problem unit — the comptroller said.

Former Fed Chair Janet Yellen referenced a study from the Center on Budget and Policy that suggests the shortfall for just states was $555 billion through 2022. Bernanke agrees.

A top Federal Reserve official is issuing a warning about fast-growing and largely unregulated shadow lenders.

Uncertainty makes downside risks prevalent, and the Fed will need to be accommodative when the crisis ends, according to Lael Brainard.

The panel later this month will vote on the nomination of Judy Shelton, whose views on certain policy issues have met with skepticism from both Democrats and Republicans.

They contribute more than $77 billion annually, or 9.4% of city economic output, according to the city comptroller.

While few observers are content with the new balanced budget, many say they can live with it as they look to an uncertain economic future.

Fed Chair Jerome Powell told House Financial Services Committee Chairwoman Maxine Waters that the Fed was looking at ways to adjust the Municipal Liquidity Facility to make some additional issuers eligible.

New York City's dynamics include closing an estimated $9 billion revenue gap due to COVID-19 and the volatile matter of police funding.

Federal Reserve Chair Jerome Powell stressed the importance of keeping the coronavirus contagion contained as the U.S. economy bounces back from its deepest contraction in decades.

While reducing the FY21 spending plan to $87 billion, New York's mayor said he needs $1 billion in labor concessions or the city could lay off up to 22,000 workers.

The lawmakers argued in a letter to the Federal Reserve that suspending dividend payouts would be the "prudent course of action," allowing banks to build their capital cushions and continue lending during the coronavirus pandemic.

Federal Reserve Bank of St. Louis President James Bullard said a strategy of capping Treasury yields out to a certain maturity may not work and such yield curve control seems unnecessary with the market pricing in rates near zero out into the future.

The Senate minority leader told advocates to lean on 21 key Republicans. "Everyone has friends and family in other states," he said.

Federal Reserve Chair Jerome Powell told Congress the Fed will "keep its foot" on the gas pedal until the pandemic ends.

The Sunshine State plans to build a statewide network of electric vehicle charging stations to cut down on carbon dioxide emissions from gas-fueled cars.

Fed chair says recovery has started but will take time and follow "uncertain" path.

The deadline to pass the city's fiscal 2021 spending plan is two weeks away and it faces a $9 billion gap.