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Change is afoot for CPS as its leader Janice Jackson is leaving and legislation stripping Chicago's mayor of full power to appoint CPS board members gains legislative momentum.

A senior White House economic aide said the decision on selecting the next central bank chief will come after a thorough “process.”

Regina Egea, president of the Garden State Initiative, analyzes New Jersey's fiscal landscape, including the proposed state budget, unfunded pension liability and deficit borrowing. Paul Burton hosts. (20 minutes)

Federal Reserve Chair Jerome Powell said that while the U.S. economic recovery is “making real progress,” the gains have been uneven following a downturn that cut hard along lines of race and income.

With federal aid rolling out, the municipal credit picture is improving and issuers are coming to market at a faster clip. An infrastructure package could push issuance levels even higher.

Signs of excess risk taking in financial markets show it’s time for the U.S. central bank to start debating a reduction in its massive bond purchases, said the president of the Dallas Federal Reserve, breaking ranks with Chair Jerome Powell.

The key benchmark that the Federal Reserve targets to control monetary policy dropped for the first time this month, dragged down as growing imbalances in the Treasury-bill market weigh on short-term dollar rates.

Public finance groups hope that the Biden administration will show the same support for tax-exempt bonds that House Democrats do.

SEC Chair Gary Gensler's pick for enforcement director resigned just days after being announced.

Congestion pricing, a Manhattan Greenway, open-streets programs and a plethora of other uses are all at play as city officials plan a recovery from COVID-19 and a full reopening of the city by July 1.

Bank of America and Citigroup, the top two underwriters in the $3.9 trillion municipal bond market, are at risk of getting shut out of Texas because of a push by Republican state lawmakers to punish the banks for their restrictive gun policies.

Judge Laura Taylor Swain says they can be dealt with in the process of confirming the central government plan of adjustment.

The municipal market largely ignored the FOMC news that it would hold rates steady. New Jersey was 20 times oversubscribed and ICI reported $2.5 billion of inflows into long-term municipal bond mutual funds.

The report found that the White House Office of Management and Budget played a key role in prodding HUD to add additional requirements for Puerto Rico to access the disaster aid.

President Joe Biden, who has an opportunity to reshape the leadership of the Federal Reserve over the next 10 months, is being urged by activists to make potentially significant changes at the U.S. central bank.

The broker exercised discretion in seven customer accounts despite Morgan Stanley no longer allowing discretionary trading.

While the 2020 number was down from the 2010 figure, it was still almost 10% greater than the Puerto Rico Oversight Board's estimate.

With enough signatures collected, according to the Secretary of State's tally, a recall election is likely.

Final payouts are approaching for $170 million of defaulted BHF bonds with haircuts ranging from less than 10% to more than 50%.

After statehood, Puerto Rico's legacy bonds would likely retain their current status, but analysts are mixed on how the market would receive new debt.