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Components of the MTA's bus-overhaul initiative could pave the way for congestion pricing, which New York's state legislature essentially sidestepped this year.

With competing party-line legislative budgets, a rebuke of both by the governor and a worsening deficit projection, the state is careening toward more fiscal turmoil and further backlash from Wall Street.

The economic outlook has not changed, Federal Reserve Board Gov. Lael Brainard said in a televised interview Friday, suggesting the Fed’s projected rate hikes are on target unless data changes require adjustment.

Inflation and the unemployment rate will determine if monetary policy will need to become restrictive in the coming years, Federal Reserve Bank of New York President William Dudley said Wednesday.

John Williams, who takes the helm of the powerful Federal Reserve Bank of New York in June, played down risks the yield curve would become inverted as the U.S. central bank gradually raises interest rates.

Hartford Mayor Luke Bronin struck a guardedly optimistic tone as he released a $567.3 million budget plan.

Federal Reserve Bank of New York President William Dudley said the central bank will stay on its gradual path of raising interest rates unless inflation moves up by “an appreciable margin.”

The rating actions came after the state agreed to assume the city's GO debt.

The New York City Housing Authority's challenges include a roughly $20 billion capital-needs backlog, federal aid cutbacks, state intervention and a worsening public perception.

Former U.S. Federal Reserve Chair Janet Yellen made a paid appearance at a forum hosted by Jefferies Group where she said she expects three to four interest-rate increases this year, Reuters reported.

Inflation is expected to grow, but remain below target, and the yield curve may invert in the next year, Federal Reserve Bank of St. Louis President James Bullard said Wednesday.

Asset valuations are stretched across a broad set of financial markets and some cryptocurrencies have witnessed “extreme volatility,” Federal Reserve Governor Lael Brainard said, though overall risks to the financial system are still low.

Federal Reserve Bank of San Francisco President John C. Williams has been selected to become president and chief executive officer of the Federal Reserve Bank of New York.

Proponents call the move the right medicine for ailing Connecticut, while opponents say the measures are overly restrictive.

Restructuring expert Michael Imber says momentum is building for such a strategy, which he says could improve the state's funding ratio.

The Federal Reserve is facing a backlash over its lack of diversity in key positions after it emerged this weekend that John Williams, the current president of the San Francisco regional branch, is a front-runner to succeed William Dudley as head of the powerful New York Fed.

The state, after multiple rating downgrades and facing budget strife, declining revenue and a pension funding dispute, plans a GO new-money and refunding sale.

While state lawmakers have approved limited use, notably for the city's housing authority, city officials want to use the method across the board.

Mnuchin will hand-deliver documents related to the loan in his first visit to the territory as a public official, he said.

In his first press conference as chair following a Federal Open Market Committee Jerome Powell stressed that “one decision” was made at the meeting: raising rates 25 basis points to a 1.5% to 1.75% target range.