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The mass transit agency, its finances reeling from the coronavirus, rejected bids from 10 different banks and sold $451 million of notes to the Municipal Liquidity Facility.

It's still insufficient for New York’s Metropolitan Transportation Authority and other struggling issuers, according to Reinvent Albany.

A lot is at stake for the public finance industry in this fall's elections, in addition to the Fed's involvement in the municipal market. Bond Buyer editors Lynne Funk and Kyle Glazier discuss the climate in Washington. (10 minutes)

On Tuesday, the Federal Reserve reduced interest rates in its Municipal Liquidity Facility by 50 basis points in each credit rating category.

The Federal Reserve reduced the interest rate spread on MLF tax-exempt notes by 50 basis points for each credit rating category.

A deteriorating market could change the calculus, but with rates at record lows, the MLF might not be needed for most issuers.

Initial jobless claims were lower after two weeks of increases, suggesting the trend may be downward again.

The U.S. economy needs more support than originally thought as a resurgence in the coronavirus pandemic weighs on growth, said Federal Reserve Bank of San Francisco President Mary Daly.

As the Metropolitan Transportation Authority lines up two note sales, the rating agency said the authority could tap into the Federal Reserve’s Municipal Liquidity Facility.

A continuation of some form of extra unemployment benefits would bolster economic growth, Federal Reserve Bank of Dallas President Robert Kaplan said.

The surging U.S. savings rate means the country can afford to support Americans laid off due to the coronavirus pandemic, while a “hard” lockdown could deliver a faster economic recovery, a senior Federal Reserve official said on Sunday.

No surprises from the Fed, not much for it to do at this point.

As an industry, we must speak persuasively with one voice and impress upon the administration and Congress that there is no substitute for the golden, reliable friends of our industry’s past.

The three-month extension for the central bank's lending programs is one of several recent steps by policymakers to stabilize the economy as the coronavirus pandemic stretches through the summer.

Two more Republican no votes will sink the nomination, if Democrats remain steadfast in their opposition.

With rates at zero lower bound, and staying there, analysts are focusing on the post-meeting statement.

Republican Sen. Mitt Romney of Utah said he will vote against Judy Shelton, one of two Trump administration nominees to the Federal Reserve’s Board of Governors.

Having people who are “outside the mainstream” on the Federal Reserve’s Board of Governors won’t create “huge amounts of problems” because they won’t set the path for monetary policy alone, former New York Federal Reserve President William Dudley said.

The nominations, essentially along party lines, move to the full Senate.