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Another $900 billion of fiscal support would “absolutely” make a significant difference to the U.S. economy’s ability to endure COVID-19, but “challenging months” lie ahead, a top Federal Reserve official said.

Daily report for December 21, 2020.

Federal Reserve Vice Chairman Richard Clarida, voicing optimism on the economic outlook thanks to coronavirus vaccines, said the U.S. will likely avoid slipping back into recession as growth rebounds next year.

The board wants to increase tax compliance, spend more on healthcare capital projects, and advance the release of CAFRs, among other things.

Paltry supply will force the secondary to handle the rest of 2020; New York City taxable general obligation bonds trade up by nearly 20 basis points on intermediate bonds.

Multiple news articles, which the SEC did not include, contradict the commission's major reasoning for why a temporary exemption for municipal advisors was needed, SIFMA said.

The state will use a public-private partnership to replace the 68-year-old Interstate 10 bridge over the Calcasieu River between Westlake and Lake Charles.

The Federal Reserve's Summary of Economic Projections forecasts inflation won't hit its 2% target next year, and others agree.

City officials say the continuation of enhanced taxing authority from Pennsylvania will help it refinance debt and avoid another fiscal cliff.

State and local governments are going to need generous lines of credit to get through the next few months. Joe Biden has an opportunity to act by rethinking the Municipal Liquidity Facility at the Federal Reserve.

The toll road operator parters with three international investors to sell half of its U.S. express lane assets in Northern Virginia while eyeing additional highway projects around nation's capital, including a Maryland P3.

Illinois closed Thursday on its second MLF borrowing as the program nears its expiration date.

Chicago's CFO turned to short-term borrowing to see whether the federal government comes through with aid to make up for the COVID-19 pandemic's tax blows.

Daily report for December 18, 2020.

The entire municipal exempt yield curve is seeing consolidation with a 125 basis point spread between one and 30 years, and sub-1% yields are holding firm inside of 15 years.

The state will repay borrowing by the Michigan Strategic Fund to cover its $600 million preliminary settlement over the Flint water contamination crisis.

Senate Majority Leader Mitch McConnell suggested state and local governments would use stimulus to shore up pension plans.

The high-yield deal will mark the junk-rated city's third post-bankruptcy general obligation issue on its own credit, without any external support.

The state Supreme Court declined to hear the case, ending a fiscal and legal dispute with the basketball team that left for San Francisco last year.

The Federal Reserve Bank of Philadelphia's manufacturing index fell to a seventh- month low, while jobless claims hit a three-month high.