Michelle W. Bowman was sworn in Monday as a member of the Board of Governors of the Federal Reserve System, the Fed announced.
Michelle Bowman, governor of the U.S. Federal Reserve nominee for U.S. President Donald Trump, arrives to a Senate Banking Committee confirmation hearing in Washington, D.C., U.S., on Tuesday, May 15, 2018. Bowman, a Kansas state bank commissioner, has been nominated to fill a seat at the Fed Board in Washington reserved for a person with community bank experience. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
The oath of office was administered by Fed Chair Jerome H. Powell. Bowman was accompanied by her husband and her two children.
Bowman was confirmed by the Senate on Nov. 15.
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Market participants launched the largest lobbying effort in recent memory to protect municipal bonds and got what they wanted as the tax-exemption survived.
UST yields rose across the curve in response to the employment report with the two-year rising nearly 10 basis points while municipals largely ignored the moves and ratios fell as a result.
Oregon Department of Transportation leaders said they will begin layoffs Monday after lawmakers adjourned without passing a transportation funding bill.
"If you are seeking the services of a municipal advisor, it would be helpful to use the term municipal advisor in your RFP/Qs," said Sanchez, director of the SEC's Office of Municipal Securities.
The growth of the muni market comes as issuance surges, with the first half of the year seeing $280.64 billion of supply, up 14.3% year-over-year, according to LSEG.