Person Root Tag

The U.S. economy will probably fall into a recession as the Federal Reserve combats multidecade-high inflation, Randal Quarles, the Fed’s former vice chair for supervision, said.

Lael Brainard was confirmed as vice chair of the Federal Reserve Board of Governors Tuesday in a 52-43 Senate vote, the first of four central bank nominees set for consideration by the chamber.

Details on how officials expect to proceed are expected to be revealed on Wednesday when the Fed publishes minutes of its March 15-16 meeting.

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.

Federal Reserve Bank of St. Louis President James Bullard said he would like to raise interest rates at the central bank’s meetings in March and May but played down the benefits of a larger-than-expected move.

The statement offered no surprises, but Fed Chair jerome Powell's refusal to denounce more hawkish scenarios hurt market sentiment.

Cities led the American recovery last year, Yellen told mayors at the U.S. Conference of Mayors winter meeting.

Newly released transcripts of Federal Reserve policy meetings in 2016 show then-Governors Jerome Powell and Lael Brainard were quick to pivot away from planned interest-rate hikes in the face of risks posed by a stumbling Chinese economy.

Federal Reserve Board Chair Jerome Powell would not commit to timing for liftoff, stressing decisions would be data-based and the Fed will not allow inflation to become entrenched.

Pressures from inflation concerns and broader rising rates weigh on munis in the second week of 2022.

Until supply comes, market participants appear to be content to sit back and let the calendar flip to a new year without making any big moves.