Funding Cuts Puts More Than 1,000 Jobs At Risk, State To Take Total Economic Hit of $650 Million Governor Calls On Washington Republicans To Restore Funding and Stop Playing Politics With New York Jobs and Businesses Governor Kathy Hochul today highlighted a list of federal funding cuts, released by Congress, that outlines grants terminated by the Trump administration through the Department of Energy. Last week, the White House announced that it was going to abruptly terminate nearly $500 million in clean energy...

NEW YORK—The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during the April – June 2025 quarter, the Federal Reserve Bank of New York said today in its quarterly report to the U.S. Congress. The U.S. dollar, as measured by the Federal Reserve Board’s broad trade-weighted dollar index, depreciated 5.6 percent in Q2 2025, with a cumulative depreciation of 7.5 percent since the beginning of the year. Market contacts reported that the dollar’s depreciation was in...

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the July 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations increased at the short and longer-term horizons and were unchanged at the medium-term horizon. Consumers expect smaller growth in their tax payments and are more optimistic about their household financial situations. Expectations about the labor market were mixed with consumers reporting greater likelihoods of losing and finding jobs, and a lower likelihood of...

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the June 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations ticked down at the short-term horizon and remained unchanged at the medium- and longer-term horizons. Unemployment and job loss expectations improved. Spending growth expectations slightly declined, while household income growth expectations increased. Households were more optimistic about their year-ahead financial situations and credit access. The survey was fielded from June 2 through June...

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the May 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations declined at the short-, medium-, and longer-term horizons. Consumers’ recent pessimism about the labor market eased somewhat, while consumer debt delinquency expectations and expectations about one’s household financial situation improved slightly. The main findings from the May 2025 Survey are: Inflation Median inflation expectations decreased at all three horizons in May. One-year-ahead inflation expectations declined by...