One of three Federal Open Market Committee members to vote for a higher federal funds rate last month, the Cleveland Fed president is undeterred by the labor force decline in July.

Market Intelligence analyst Jeff Lipton says muni investors should treat July as a reset, not a retreat, with positive flows, compelling taxable-equivalent yields and selective repricing supporting modest single-digit returns by yearend.

Jeffrey Cleveland, Managing Director and Chief Economist at Payden & Rygel, will discuss the FOMC meeting, the new SEP and Chair Warsh's press conference.

President Donald Trump's administration has reportedly sent a letter to Federal Reserve Gov. Lisa Cook detailing his reasons for finding cause to remove her from office after the Supreme Court ruled in her favor earlier this summer.

"New Fed chairs often face unexpected monetary system challenges and bond investors want to be reassured that the Fed will be serious about addressing those challenges," D.A. Davidson's James Ragan said.

Federal Reserve Gov. Lisa Cook said risks, including geopolitical tensions, are tilted toward higher inflation in the near term.

CPI inflation remains above the Federal Reserve's 2% target, but the slower rate of increase gives the central bank time to weigh the best course of action.

The new Fed chairman has emphasized policymakers' commitment to tackling inflation since he took office in May and said the number one objective is to get monetary policy right.

The Federal Reserve governor said the central bank should consider near-term rate hikes if core-measures of inflation continue to climb.

Market Intelligence analyst Jeff Lipton breaks down why munis became the fixed-income standout in 1H 2026, as tax-exempt income, SMA demand, healthy supply-demand dynamics, curve positioning, active security selection and spread compression offset geopolitical volatility and shifting Fed expectations.

Federal Reserve Board Gov. Christopher Waller says he is OK with dialing down the amount of communication issued by the central bank's monetary policy committee, but doesn't want the central bank to throw out the baby with the bathwater.

Issuance is on pace for another year of record supply even as factors driving credit spreads change, Center for Municipal Finance Director Justin Marlowe said.

Kevin Warsh set the table for change. Marvin Loh, managing director at State Street, discusses the FOMC meeting and Warsh's press conference.

The longtime Federal Reserve chair served under four presidents and presided over the deregulatory and pro-market push of the 1990s and early 2000s that set the stage for the 2008 mortgage crisis.

The Federal Open Market Committee enters a new phase when it meets this week as Kevin Warsh takes over as chair.

Many factors impact the performance of munis, and, this year, everything seems to be working for the positive.

The Fed is expected to hold steady for the rest of the year as it navigates a renewed inflationary environment, according to the UCLA Anderson Forecast.

Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she believes price growth is still heading toward the central bank's 2% target when factoring out one-time shocks such as tariffs and elevated oil prices.

The Senate voted 54-45 to confirm Kevin Warsh to lead the central bank. Warsh will take the reins from Jerome Powell, who said he will remain on the Federal Reserve Board.

Kevin Warsh's nomination to the Federal Reserve chairmanship will require a second vote, which should happen this week.