What once seemed like an easy potential renomination for Powell has morphed into a problem for the White House as Sen. Elizabeth Warren, a Massachusetts Democrat, and progressive groups call into question the trading activity.

Federal Reserve Vice Chair Richard Clarida traded between $1 million and $5 million out of a bond fund into stock funds one day before Chair Jerome Powell issued a statement flagging possible policy action as the pandemic worsened, his 2020 financial disclosures show.

Two hearings before the House Committee on Financial Services in the past week have been rife with criticism of Fed and Treasury responses to the pandemic.

CB President Christine Lagarde said Wednesday that inflation “is largely attributable to the reopening of the economy.”

Chris Johns and JT Thompson, portfolio managers at the Aquila Group of Funds talk about the possible return of a BABs-like program and if it’s good or bad news for the tax-exempt bond market. They also discuss infrastructure, tax-exempt advance refundings and monetary policy. (21 minutes)

The high-grade muni scales saw cuts of up to four basis points in a continued selloff Monday as the market faces a robust slate of new issues.

U.S. Treasuries sold off by double digits while municipals cut levels by one to three basis points. Refinitiv Lipper reported another $1.55 billion of inflows for the 29th consecutive week.

Making the Federal Reserve's Municipal Liquidity Facility a permanent emergency lending program would be “valuable and forward thinking," Connecticut Treasurer Shawn Wooden told a House subcommittee.

Market participants welcomed the municipal-related provisions in the reconciliation bill but are hesitant to start making bets on its passage.

The presidents of the Federal Reserve banks of Boston and Dallas said Thursday they would sell their individual stock holdings by Sept. 30 and invest the proceeds in diversified index funds or hold them in cash.

Refinitiv Lipper reported just over $1 billion of inflows into municipal bond mutual funds, an $800 million drop from a week prior, moving the four week moving average to $1.6 billion.

Bond investors may not wait long to start pushing back against Federal Reserve Chair Jerome Powell’s efforts to delink the start of asset-purchase tapering from the countdown to eventual policy-rate hikes.

The members of Congress, in asking that Biden find some other, unspecified, nominee, are going against the preference of Treasury Secretary Janet Yellen, who has told Biden advisers that she wants to see Powell renominated.

Federal Reserve Chair Jerome Powell risks inflation getting out of control and his assurance that the central bank can keep it in check neglects to mention this would require traumatic surgery, said former Richmond Fed President Jeffrey Lacker.

Federal Reserve Gov. Lael Brainard spoke with the Biden-Harris Federal Reserve transition team in January and with the president’s Council of Economic Advisers in May, her calendar shows.

U.S. Treasury Secretary Janet Yellen has told senior White House advisers that she supports reappointing Jerome Powell as Federal Reserve chair, according to people familiar with the matter, a move that greatly increases his chance for a second term.

The regional Fed bank said it was making the move “due to the recently elevated COVID-19 health risk level in Teton County, Wyoming.”

Dallas Fed President Robert Kaplan said he’s open to adjusting his view that the Federal Reserve should start tapering its asset-purchase program sooner rather than later if the Delta variant persists and hurts economic progress.

As New York City launched the first of its two-day retail order period on $1.039 billion of GO bonds, the market was uneventful ahead of $9.76 billion in the primary market this week

The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.