Gabriela Bhaskar/The New York Times

In 2022, Mayor Eric Adams was sworn into office in Times Square on New Year's Day, surrounded by his closest allies.

By 2025, he was facing criminal charges, and many of those who had joined him three years earlier were under investigation or no longer in his administration. This time, he celebrated with a new group.

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When Eric Adams was sworn in as the 110th mayor of New York City in Times Square three years ago, he brought his closest advisers onstage with him to celebrate after the New Year’s Eve ball drop.

Mr. Adams was back in Times Square this week to ring in 2025 after the most challenging year of his political career. The advisers were gone.

The mayor was indicted on federal corruption charges in September, and many of those who were onstage in 2022 have left his administration or are under investigation. He brought a new group of top aides along this year, as well as his son Jordan Coleman.

The stark changes to the mayor’s New Year’s Eve entourage show how much his inner circle has transformed after a series of scandals plunged his administration into crisis.

Mr. Adams, a Democrat who is seeking re-election, is expected to stand trial in April on charges that he conspired with the Turkish government to receive illegal foreign campaign contributions and improperly accepted benefits that included luxury international travel. He has insisted that he is innocent and has pleaded not guilty to the charges.

The mayor has a record low approval rating and faces an uphill battle in trying to win the Democratic primary in June against a large field of candidates.

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Investors seem to think the central bank got it right. S&P 500 futures jumped on Thursday after the benchmark fell in volatile trading following the Fed’s decision. The prices of bonds and cryptocurrencies are rising, too. And this just in: The Bank of England voted to keep rates unchanged.

If the inflation continues to slow and the economy evolves as policymakers expect, “we should be able to reduce rates gradually over time,” Andrew Bailey, the governor of the cental bank, said in a statement on Thursday.

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