Your guide to NYC's public proceedings.
AGENCY TESTIMONY
Economic assumptions and trade policy impact
0:15:39
·
45 sec
Sherman addresses the lack of public detail from the administration regarding economic assumptions in light of current discussions around trade, immigration, and tax policy. She highlights potential impacts on the local economy and city finances.
- Questions raised about assumptions on inflation, GDP growth, and recession chances
- Rapidly changing federal trade policy could affect local job creation and tax bases
- Potential impacts on city's purchasing power and ability to borrow
Jackie Sherman
0:15:39
The administration has yet to publicly detail its economic assumptions in light of current discussions around trade, immigration, and tax policy and how those underlie its revenue and expense forecasts.
0:15:54
The administration should explain its assumptions regarding how inflation, GDP growth, and the chances of recession affect the local economy.
0:16:05
Rapidly changing federal trade policy could affect local job creation and the city's income, business, and sales tax bases.
0:16:15
Tariffs could change the city's purchasing power for goods and supplies, and volatility in the bond market may hinder the city and authority's ability to borrow.