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Federal Reserve Bank of Cleveland President Loretta Mester said the central bank should shrink its balance sheet as fast as it can without disrupting financial markets and repeated her backing to a March interest-rate increase.

“We are anticipating a substantial present value savings as a result of our being proactive,” said the spokeswoman for state Treasurer John Schroder.

Daily report for January 12, 2022

NOTICE IS HEREBY GIVEN that there have been deposited with U.S. Bank National Association, as Trustee under the State Personal Income Tax Revenue Bonds (General Purpose) General Bond Resolution, adopted by the Dormitory Authority of the State of New York (the “Authority”) on April 29, 2009, as supplemented (the “PIT Bond Resolution”), monies for the purpose of defeasing a portion of certain maturities of the Authority’s State Personal Income Tax Revenue Bonds (General Purpose Series 2017A, as described below (the “Defeased Bonds”)

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.

The second year of the pandemic unleashed unprecedented exogenous challenges for financial companies heading into 2022. What core trends will shape the industry moving forward?

Swain rejected several legal challenges to the Plan of Adjustment. The Oversight Board must file a final amended plan by Friday.

The Municipal Rulemaking Securities Board's annual report and audited financial statements were published Tuesday.

With an insolvent Highway Trust Fund, alternatives to the federal fuel tax are more important than ever.

Chicago Public Schools returns to the market after resolving a union dispute that shuttered schools amid the spreading omicron COVID-19 variant.

Treasury’s final ruling issued last week provides tribes with $10 million in revenue loss allowance and a broader list of capital expenditures.

Other concerns include ongoing threats from the coronavirus, inflation and legislative inertia on muni issues in Washington, according to a Bond Buyer survey.

Katherine Craven, chief administrative and financial officer at Babson College, discusses the school's business niche, its bond-rating upgrades amid negative outlooks for higher education overall, and the outlook for the sector in the face of the pandemic. Paul Burton hosts. (Recorded on Dec. 23, 2021 and is 25 minutes long.)

Daily report for January 11, 2022

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

Gov. Gavin Newsom listed homelessness, wildfire prevention, climate change and continuing efforts to reduce pension liabilities as budget priorities.

Federal Reserve Vice Chair Richard Clarida intends to resign from the board of governors on Jan. 14, two weeks before his term is due to expire.

Treasury’s final rule on the State and Local Coronavirus Fiscal Recovery Fund allows counties to use up to $10 million for general public services and expands the list of eligible water, sewer, and broadband infrastructure projects.

Building on the success of its Green Liberty Bonds, a subsidiary of the Connecticut Green Bank will allow mom and pop investors to place orders for as little as $100 for Green Liberty Notes until Friday.

If it clears the legal hurdle, the company that owns the $30 billion project may seek a $12 billion Railroad Rehabilitation and Improvement Financing loan.