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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.