Washington

Kevin Warsh's financial disclosures show significant wealth, likely well-over $100 million, beyond that of even Federal Reserve Chairman Jerome Powell, who came from the private equity world.

As Congress crafts the next surface reauthorization bill, states want to retain control over the bulk of the formula highway funds.

Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.

With the "fragile" ceasefire in the United States-Iran conflict underway, the risk of higher rates beyond those from March has largely been removed, said BofA strategists.

The state does not have the bonding capacity to independently rebuild the American Legion Bridge, the feds say. The state continues to hope for a federal grant to help cover the cost.

"I find this a very encouraging appointment," Peter Chan, a partner at law firm Baker McKenzie, said of Woodcock's appointment.

A second budget reconciliation bill is moving closer to reality, creating a mixed bag of challenges and opportunities for the municipal bond market.

"We need private capital," the transportation secretary said.

"I would much rather invest in the muni, both in terms of default rates and in terms of the yield that you're getting off of those," said Travis Lower.

President Trump's budget proposal for fiscal year 2027 includes $1.5 trillion for the military, while cutting FEMA's budget, privatizing the TSA, and increasing transportation funding.