Washington

Secretary of Transportation Pete Buttigieg appeared before the House Appropriations Committee to warn of serious consequences of budget cuts.

"The funds made available to local governments in the American Rescue Plan Act have been a lifeline to our nation's communities," said National League of Cities CEO Clarence Anthony.

The FAA reauthorization bill is a big-ticket transportation item facing Congress this year.

The MSRB's upcoming board meeting on will focus on time of trade reporting, amendments to Rules G-47 on time of trade disclosures and D-15 on sophisticated municipal market professionals.

A heated hearing was preceded by letters to the House Financial Services Committee that gave muni advocates a chance to weigh in on regulatory concerns.

It's unrealistic to ask transit agencies, even financially stables ones, to solve larger social problems like homelessness or inequity, says an expert.

The MSRB's proposed amendments to Rule G-47 on time of trade disclosures codifies existing guidance and is being welcomed by dealer groups despite some minor objections.

Federal Reserve Bank of St. Louis President James Bullard said he favored continued interest-rate hikes to counter persistent inflation, while recession fears are overblown.

Richmond Federal Reserve Bank President Thomas Barkin said he wants to see more evidence that U.S. inflation is easing back to the central bank's goal of 2%.

The House Republicans proposal to avoid a debt limit default relies on spending cuts and "capturing" unspent COVID aid.