Federal Reserve Board Chair Janet Yellen said there is no timetable for the first interest rate hike.
Responding to a question during her testimony before the Joint Congressional Economic Committee, Yellen said most of the Federal Open Market Committee members expect the initial interest rate hike to occur in 2015 or 2016.
It will take "some time" to get interest rates back to "normal" levels, she said.
Munis saw small gains Thursday, continuing the slight turnaround in sentiment the market has seen this week, with muni yields seeing modest bumps each day, said Jeremy Holtz, a portfolio manager at Income Research + Management.
The city is in danger of defaulting on bonds in the next fiscal year, according to Local Government Commission officials who say they will intervene if needed.
The $12.78 billion fiscal 2027 budget agreement unveiled by Republican officials comes as lawmakers prepare for looming federal Medicaid funding cuts.
A presidential address does nothing to quell the price of crude oil as states are now calculating the effects of rising fuel prices on their tax revenues.
Divisions are emerging among Missouri lawmakers over the $50.3 billion fiscal 2027 budget the House passed last Tuesday.
Judge Laura Taylor Swain is allowing the continued examination of a count in which a trustee is challenging fees, and some proceeds, of pre-bankruptcy bonds.
