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Senate Majority Leader Mitch McConnell set up a vote to advance the nomination of Christopher Waller to the Federal Reserve Board, potentially clearing the way for his confirmation later this week.10h ago
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Federal Reserve Chair Jerome Powell is cautioning lawmakers that the U.S. economy remains in a damaged and uncertain state, despite progress made in the development of COVID-19 vaccines.10h ago
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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.November 30
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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.November 30
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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.November 25
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Federal Reserve officials discussed providing more guidance on their bond-buying strategy during their Nov. 4-5 policy meeting.November 25
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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.November 24
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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.November 24
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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.November 24
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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.November 24
