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The budget provides more money to state and local governments and record levels of funding for schools and railroad initiatives.

Half of the infrastructure funding is going to the states, and cities should talk to their governors to ensure they see some of that funding, White House Infrastructure Advisor Mitch Landrieu told the National League of Cities Tuesday.

Ongoing turmoil in the Ukraine is roiling markets, municipals included. Refinitiv Lipper reported more outflows, with high-yield seeing $818.218 million pulled out in the latest week.

Senate Democrats insist the GOP's boycott of President Biden's picks for the Federal Reserve is interfering with the central bank's handling of an economic crisis. But GOP lawmakers say the Fed is functioning fine and their concerns about nominee Sarah Bloom Raskin are material.

The Investment Company Institute on Wednesday reported $2.637 billion of outflows in the week ending Feb. 23, down from $3.120 billion of outflows in the previous week.

States have appropriated 72% of the ARPA funds they have received so far and many state legislatures are developing plans to spend the rest.

“I want to break ground next year,” Kentucky Gov. Andy Beshear said.

The proposal would offset all gas tax losses to the Highway Trust Fund but would still hasten its insolvency.

Federal Reserve Bank of St. Louis President James Bullard said bringing down inflation may require the central bank to overshoot a neutral target interest rate, which he sees as about 2%.

In an interview on Thursday, Federal Reserve Bank of St. Louis President James Bullard discussed his outlook for monetary policy following a report showing surging consumer prices.