Washington

In rural areas, "even modest rate increases can force low-income households to choose between water service and other basic necessities," Matt Odermann from the National Rural Water Association told senators Wednesday.

Washington D.C. is trying to follow the lead of many states that have decoupled their tax policy from the provisions of the One Big Beautiful Bill Act, but Congress is signaling disapproval which would result in a budget shortage.

"This would be an unnecessary change that would be difficult to administer and comply with and which would severely limit municipal entity choice," the Bond Dealers of America said in a comment letter.

Wisconsin Republican Ron Johnson formed a Senate subcommittee to investigate the Los Angeles fires at the request of Sen. Rick Scott, R-Fla.

"I was in banking for a long time and this gives me a chance to support the market from another angle," said Rob Dailey.

"MSRB is committed to ensuring our regulatory framework keeps pace with an evolving market," MSRB Board Chair Natasha Holiday said.

The District of Columbia deals will bring a mix of new money and refunding bonds with a variable-rate component.

Analysts were pleased that a known quantity with bona fides was the pick, but Warsh may bring about changes in the Fed that have some concerned.

"These municipal bond schemes improperly divert new issue bonds to bad actors at the expense of bona fide retail investors," FINRA's Meghan Ferguson said.

Warsh, who served on the U.S. central bank's Board of Governors from 2006 to 2011 and has previously advised Trump on economic policy, would succeed Jerome Powell when his term at the helm ends in May.