Politics

UBS will compensate a Texas school district, which was forced to resell bonds after the state attorney general rejected the investment bank's contract to purchase the debt.

President Biden will ask the Senate to confirm Gov. Philip Jefferson for the No. 2 spot on the Federal Reserve Board; World Bank Group executive and Colombian-American Adriana Kugler for a vacant board seat; and Gov. Lisa Cook for a full term.

The measure, which passed both legislative chambers in lopsided votes, would strip the governor of his sole ability to appoint turnpike board members.

The Federal Reserve meeting May 2-3 will be closely watched for hints about what the FOMC's next move is. Join BNP Pariba U.S. Economist Yelena Shulyatyeva at 11 a.m. May 4 as she takes a look at the meeting and Chair Powell's press conference.

The choice of PFM's Jill Jaworski for the CFO position drew praise from the outgoing CFO and market participants who are watching closely to see whether the city stays on track with fiscal progress that has drawn more than a dozen rating upgrades across credits.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.

Lawmakers passed a stopgap $150 million loan fund for hospitals in fiscal distress, and will discuss longer-term solutions as the session progresses.

Democrats and Republicans each said the other party's position on ESG investing carries additional costs for states.

Washington Gov. Jay Inslee signed legislation Tuesday improving a tax increment financing program created in 2021 that wasn't working as intended.

Chicago Mayor-elect Brandon Johnson hopes to make an announcement on the CFO post before taking office Monday.