Washington

The Federal Reserve should continue gradually raising interest rates if data on consumer prices available by the central bank’s mid-June policy meeting indicate inflation will soon reach the 2% target, Chicago Fed President Charles Evans said.

Employers in New York also are allowed to implement a 5% payroll tax as a way of paying some of their employees’ state income taxes.

The three islands of the USVI have received more than $1 billion in federal disaster assistance through March 27, according to FEMA spokesman Manuel Broussard.

Federal Reserve Bank of Atlanta President Raphael Bostic sees a buoyant U.S. economy lifting inflation to the central bank’s 2% target “sometime in the next quarter or two” but said he doesn’t think this should prompt the central bank to choke off the expansion.

Gribbin's resignation, which followed Gary Cohn's departure, means that the two major administration officials charged with developing and selling the president's infrastructure plan are gone.

It's important and constructive to talk about these kinds of alternatives to advance refundings, market participants said.

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.

State and local governments in some cases weren’t disclosing terms of direct borrowings, private placements that exposed them to risks different from those related to other types of debt.

Kentucky lawmakers approved a $22 billion biennial budget bolstered by cuts for most state agencies, transfers and new revenue.