More crystal ball gazing

Calculations by the Federal Reserve Bank of New York suggest the loss suffered by New York City stands between US$33bn and US$36bn, lower than earlier calculations, the highest of which was that of the NY City Comptroller’s Office at US$95bn. However, the Bank was working on a cut off date of June 2002, when WTC clean-up was completed and the Comptroller used a projected cut-off three years after the event.