Federal Reserve Board Chair Janet Yellen will resign as a member of the Fed’s Board of Governors when Jerome Powell is sworn in as chair, the Fed announced Monday.
Yellen’s departure means there will be four openings on the Fed’s seven-member Board.
Yellen said in her resignation letter it was “a great privilege and honor” to serve in the Fed system for three decades and expressed faith in Jerome Powell’s commitment to the Fed’s mission.
August may have one of the highest tax-exempt volume totals on record, according to J.P. Morgan analysts — don't expect it to let up.
The announcement — which affects the 10- to 30-year part of the curve — sent longer-term UST yields falling up to 10 basis points on Wednesday.
Brightline West bondholders agreed to give Brightline more time to secure a $400 million equity contribution that was originally due on March 31.
Law firms, think tanks and advocacy groups are digesting the ROAD to Housing bill and offering strategies to municipalities about how to maximize the public finance benefits.
Financing for a nearly $500 million long-term investment plan would include as much as $250 million of revenue bonds that could be sold next year.
Like state governments, most cities and counties remain on "solid footing" given high reserve levels and conservative budgeting, BofA strategists said.
