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The Independent Budget Office said state mandates are putting a burden on New York City finances.

If New York State legalizes marijuana, New York City could see as much as $336 million annually in new tax revenue.

While the Federal Open Market Committee will raise interest rates a total of three or four times this year, interest rates will remain low by historical standards.

Blame the U.S. central bank for the flattening the yield curve, said Federal Reserve Bank of St. Louis President James Bullard, who urged his colleagues to avoid aggressive policy tightening that would push shorter-term rates above those on longer-dated Treasuries.

State Treasurer Denise Nappier released a certification that accounts for bond projects lawmakers authorized and canceled.

Suggesting that the Federal Open Market Committee need not raise interest rates any time soon, Federal Reserve Bank of St. Louis President James Bullard said Friday monetary policy “is likely neutral.”

The $20.8 billion second-year adjustment to the biennial plan cleared 48 minutes before Wednesday's midnight adjournment deadline.

The City Council urged greater transparency and an end to "frontloading" in its response to Mayor Bill de Blasio’s $89.06 billion fiscal 2019 executive budget.

The quarterly update showed growth slowed from 3.4% amid declining commercial leasing activity, and sluggish private sector job growth.

Federal Reserve Chairman Jerome Powell said financial markets have gotten the message on the U.S. central bank’s plan for gradual interest-rate increases and “should not be surprised” by its actions.