Unless risks materialize, Federal Reserve Bank of Boston President Eric Rosengren see rates being raised gradually until they are "mildly restrictive."
By raising rates slowly, it averts "a more forceful response" when risks arise, he told a gather in Dalton, Mass., Friday, according to text released by the Fed.
Rosengren said his views are consistent with those in the Summary of Economic Projections, which expects the federal funds rate target to rise to 3.4% in 2021. "Of course, if risks become more germane, a different path may be warranted," he noted.
Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.
It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.
"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.