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Pending home sales unexpectedly declined in October, the second consecutive month they dropped.

The U.S. economy seems to be holding up despite a surge in COVID-19 cases and hospitalizations, clouding the case for more monetary stimulus, Federal Reserve Bank of Richmond President Thomas Barkin said.

The incoming administration chose a battle-tested policymaker who can draw on her nearly two decades at the Fed to help rebuild an economy still struggling from the coronavirus pandemic.

'I’m good at guarding things,' said the retired Army Reserve colonel, who will become Pennsylvania's next treasurer.

The central bank will prolong the life of the Commercial Paper Funding Facility and three other programs while returning congressionally approved funds for five separate facilities that will shut down Dec. 31.

Illinois will borrow $2 billion through the Federal Reserve's Municipal Liquidity Facility to help manage its 2021 budget gap. The state previously borrowed $1.2 billion from the MLF for its fiscal 2020 pandemic hole.

The Investment Company Institute reported municipal bond funds saw $2.675 billion of inflows in the latest reporting week.

Federal Reserve officials discussed providing more guidance on their bond-buying strategy during their Nov. 4-5 policy meeting.

The rating agency cited coronavirus-related curbs on economic activity in the commonwealth.

The budget cleared the Chicago City Council Tuesday. Rating agency and buy side reviews on the final plan will come next.

Sources said the JFK deal was massively oversubscribed, allowing underwriters to lower yields from 15 to 45 basis points.

Yellen will inherit an Office of State and Local Finance that has been a low-key operation since it was formed in 2014 to manage the Treasury’s response to Puerto Rico’s economic, fiscal and debt crisis.

The broker did not disclose conflicts of interest and altered documents, FINRA found.

The Supreme Court decision in the Aurelius case that the Oversight Board was a local entity affected the U.S. Court of Federal Claims' decision.

The Federal Reserve’s bond-buying program is serving its purpose well at the moment, though the central bank could adjust the parameters if needed, New York Fed President John Williams said.

Municipal finance is not a top-tier issue for treasury secretaries, but Yellen has taken a strong stance for more direct aid to state and local governments during the pandemic.

He was remembered for an evenhanded persona amid a tumultuous term from 1990 to 1993.

Lawmakers choose a scoop-and-toss move despite calls for better targeting of the federal funds.

The consumer confidence index suggested expectations have slipped, and the Richmond Fed's services survey also offered a dim view ahead.

With Yellen in charge, Biden’s Treasury Department will be prepared to join Fed Chairman Jerome Powell’s policy of lower-for-longer interest rates with extended, expansionary government spending.