The Bond Buyer quotes Howard Cure on New York Budget Proposal
Evercore Wealth Management Director of Municipal Bond Management Howard Cure spoke with The Bond Buyer about New York Mayor Bill de Blasio’s budget proposal.
The Mayor has been praised for his cost-cutting budget proposal, unveiled last week, but some say it does not prepare enough for a possible economic downturn. “It’s modestly tighter as far as expenditures,” said Howie, adding that the plan does cut back, but not by that much. “The mayor is acting like a recession is not eventually approaching. The budget is only maintaining the reserves and not increasing them,” Howie said. “As a bondholder, I’d like to see the city be better prepared for a recession.”
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