Jerome Powell

Refinitiv Lipper reported $1.9 billion of inflows, high-yield gaining $524 million, the 25th consecutive week of inflows into municipal bond mutual funds.

The Investment Company Institute reported $2.3 billion of inflows, bringing 2021 totals to $67 billion.

While municipals were little changed, broader markets remain focused on Jackson Hole and speculating what will be said about tapering.

U.S. Treasuries gave little direction Monday, holding ratios and yields steady, leading most participants to argue both are satisfactory to ride out the summer.

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.

President Joe Biden has a tough decision in choosing the next Federal Reserve chair: Play it safe by giving Jerome Powell a second term or take a chance on a liberal like Lael Brainard, who would please progressives in Congress yet potentially agitate Wall Street.

Federal Reserve Chairman Jerome Powell has won over a number of influential Senate Democrats who are prepared to back him for another term, though a key pair remain holdouts and are unhappy with his leadership on regulation.

Federal Reserve Chair Jerome Powell enjoys broad support for his renomination among top White House advisers, though the decision is expected later this year.

Some Democrats are weighing the possible reappointment of Federal Reserve Chairman Jerome Powell, the Financial Times reports, citing California Democratic Congressman Brad Sherman.

U.S. Treasury Secretary Janet Yellen said the question of whether to nominate Federal Reserve Chair Jerome Powell for a second term is a conversation for her and President Joe Biden.

U.S. Treasuries have been volatile the past five sessions, with municipals largely ignoring the ride. Participants mostly have accepted current rates and ratios as large amounts of cash slosh around a market with strong technicals.

A key demand component in the market again flexed its muscles with ICI reporting another round of $2 billion-plus fund inflows.

Municipals outperformed U.S. Treasuries for a third sessions moving the 10-year municipal to UST ratio below 60%.

President Joe Biden would be well advised to offer Jerome Powell a second term as chair of the Federal Reserve to preserve policy stability as the U.S. economy recovers from the pandemic, said former Fed Vice Chair Alan Blinder.

Federal Reserve Chair Jerome Powell said the price increases seen in the economy recently are bigger than expected but reiterated that they will likely wane.

Federal Reserve Chair Jerome Powell said inflation had picked up but should move back toward the U.S. central bank’s 2% target once supply imbalances resolve.

The Investment Company Institute on Wednesday reported $2.533 billion of inflows into municipal bond mutual funds, the highest since February.

Raphael Bostic, Federal Reserve Bank of Atlanta president, says he hears frequent speculation that he could be nominated to lead the central bank.

While cryptocurrencies could have benefits, they have “not served as a convenient way to make payments, given, among other factors, their swings in value,” said the head of the Federal Reserve. He also detailed imminent Fed research on a central bank digital currency.

A senior White House economic aide said the decision on selecting the next central bank chief will come after a thorough “process.”