President Joe Biden met separately with Federal Reserve Chairman Jerome Powell and Fed Governor Lael Brainard at the White House on Thursday as he considers who will lead the central bank next year.

As the Federal Open Market Committee meets to discuss monetary policy, Gary Pzegeo, head of fixed income at CIBC Private Wealth will discuss his thoughts about what will come from the meeting.

Senior Federal Reserve officials violated the central bank’s prohibition of stock trading that may appear improper, even if specific guidelines weren’t broken, Chair Jerome Powell said.

President Joe Biden said he’ll announce soon his choice of nominees for chair and other vacancies on the Federal Reserve, amid a scandal over stock trades by central bank officials.

Jerome Powell is widely expected to be renominated to a second term as Federal Reserve chair, but his chances have been modestly dented by the revelations of stock trading by some senior Fed officials in 2020, according to economists surveyed by Bloomberg News.

Senate Banking Committee Chair Sherrod Brown said he expects President Joe Biden will release a combination of nominations to the board of the Federal Reserve at the time he unveils his decision on the central bank chair.

Jeffrey Cleveland, chief economist at Payden & Rygel, discusses the Federal Reserve’s upcoming meeting, inflation, what taper will mean, when the Fed might decide to lift off, and possible leadership changes. Gary Siegel hosts. (30 minutes)

Treasury Secretary Janet Yellen defended Federal Reserve Chair Jerome Powell’s record on regulating the financial system amid attacks by progressives seeking to deny him a second term — even though in the past she’s expressed some misgivings about rulemaking under his watch.

The Federal Reserve will ban top officials from buying individual stocks and bonds as well as limit active trading after an embarrassing scandal that led two officials to resign and clouded Chair Jerome Powell’s path to renomination.

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.