The first congestion pricing plan in the United States has begun in New York City, charging most drivers $9 a day to enter Midtown and Lower Manhattan at peak hours. The long-debated plan, which has garnered both supporters and detractors, is projected to raise between $500-800 million a year to pay for repairs and improvements of the city's aging public transit system. Will it work? Correspondent Mo Rocca reports.
The firm's optimism is driven by rising odds of US Federal Reserve rate cuts, with markets pricing in a 93% chance of cuts, and improving liquidity conditions....