The Puerto Rico Economic Empowerment Act of 2018 would implement some of the recommendations made by a congressional task force as well as provisions left out of disaster relief legislation, according to the two Republican senators who offered it.
Revel, the failed $2.4 billion casino in Atlantic City, New Jersey, built as a high-end playground for Wall Street bankers, sold for $200 million to a Colorado developer who plans to reopen it under the name Ocean Resort Casino.
Nearly all Federal Reserve districts reported modest or moderate economic growth in the past six weeks as business outlook improved and hurricane-related rebuilding pushed prices higher, the latest Beige Book survey showed Wednesday.
Economists in the latest Philadelphia Federal Reserve Bank's quarterly survey marked up their forecasts for growth this year and next but said they expect inflation toward the Fed's 2% target to slow going forward.
A destructive hurricane season caused significant disruptions along the Gulf Coast and the southeastern United States but businesses remained optimistic about growth over the medium term, the latest Federal Reserve Beige Book survey showed Wednesday.