Mayor Mike Duggan on Monday proposed the city appropriate its surplus to create a new $42-million reserve fund.

For the 11th straight year, the city of Detroit is set to see a budget surplus. Mayor Mike Duggan announced Monday a projected $60 million surplus for fiscal year 2024-2025, which wrapped up in June.

Duggan’s call for a new reserve fund comes as the three-term mayor is in his final four months in office and running for governor, and about six weeks before Detroiters will elect a new mayor: either ...

While inflation remains above the Fed's 2% target, economists expect a rate cut this September to address the weakening labor market.

The Trump administration is expected to quickly turn to the Supreme Court in a last-ditch bid to unseat Cook before the Fed meets. And Cook’s lawsuit seeking to permanently block her firing must still ...

U.S. District Judge Jia Cobb late Tuesday granted Cook’s request for a preliminary injunction blocking her firing and ruled ...