Economic News

New York Doubles Down on Costly Electric Buses

Albany isn't hitting the brakes - it's flooring the accelerator on a policy that's already raising red flags with the people who have to pay for it.

Inflation Jitters Shake Consumer Confidence

U.S. consumer confidence eased in May as worries about inflation linked to the war in Iran intensified and households' views of the labor market were largely pessimistic, though they anticipated an improvement by the end of this year.

US Single-Family Homes Edge up to $503,000

U.S. single-family house prices edged up in March, but further increases are unlikely as the war with Iran pushes mortgage rates higher, dampening housing demand.

Mamdani Unveils NYC Landlord Relief Ahead of Rent Freeze

New York City Mayor Zohran Mamdani is preparing to roll out a housing proposal that would give relief to some rent-stabilized landlords even as his administration moves toward a potential citywide rent freeze later this year, The Wall Street Journal reported on Tuesday.

ECB 'will do what is necessary' to tame inflation, Bank of France governor tells CNBC

Markets are overwhelmingly pricing in a rate hike from the central bank at its next meeting.

Iran Seeks Release of $24 Billion in Potential Agreement With US

Around $24 billion of Iranian funds frozen overseas must be ‌released under ​a memorandum of understanding being ⁠negotiated with ​the United States, a ⁠source close to Tehran's negotiation team ‌said, ​according to report ‌by Iran's ‌Tasnim news agency on Tuesday.