Trump administration

As the House of Representatives votes to approve next steps in President Donald Trump's impeachment inquiry, the muni market considers the possible impact.

The start of an impeachment inquiry brings uncertainty, as business investment continues to be soft.

The Federal Open Market Committee meeting featuring the release of a new Summary of Economic Projections should give the market a better clue as to whether the expected rate cut is part of a mid-cycle adjustment or the second step in an easing cycle.

Retail sales showed consumers continue to propel the economy, though the number excluding autos was weaker than forecast.

The fifth-generation banker, who has already been serving as a central bank governor, was confirmed by the U.S. Senate in a 60-31 vote.

President Donald Trump urged the Federal Reserve to lower interest rates to a level typically reserved for recessions or periods of persistently weak growth, suggesting that such a setting could allow the government to restructure Treasury debt at a lower cost.

A former top Federal Reserve official suggested the central bank reject interest-rate cuts that would help Donald Trump’s 2020 reelection prospects, drawing swift criticism that such forbearance would jeopardize the independence of a Fed already under fierce attack from the president.

Despite trade issues, consumer confidence slipped only slightly in August, as “consumers have remained confident and willing to spend.”

By the end of the week the municipal bond market should have a better idea of what Federal Reserve officials are thinking.

Judy Shelton backs a half percentage-point rate cut and would have pushed the Fed to move sooner.