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Has New York Already Entered Stagflation?
Stagflation is the deadly combination of low growth and high inflation. With the implementation of sweeping and high tariffs by the federal government, most economists and forecasters currently predict something resembling “stagflation” on the Unites States’ economic horizon. But New York may have already entered a period of stagflation: New York’s economy has recovered the jobs lost during the Covid-19 pandemic, but lags the economic growth seen in the rest of the country.
Statement on Governor Hochul’s Announcement of a Budget Agreement
Budget agreement includes serious fiscal missteps that will undermine the State’s ability to weather federal funding cuts
Cutting through the Noise on Congressional Medicaid Cuts
Republicans have argued that they can cut Medicaid without cutting services to vulnerable populations by cutting “waste, fraud and abuse”; by targeting people who are not, or in their view should not be, eligible for the program; and by reforming complex state financing mechanisms like provider taxes.
What to Look for in New York City’s Executive Budget
The Adopted Budget should anticipate realistic revenue and spending on core services while maintaining a flexible reserve to prepare for fiscal uncertainty. The budget response put forward by the City Council takes important steps toward these goals.

The Fiscal Policy Institute (FPI) is an independent, nonpartisan, nonprofit research and education organization committed to improving public policy to better the economic and social conditions of all New Yorkers. Founded in 1991, FPI works to create a strong economy in which prosperity is broadly shared.