Washington

Some worry that governments will use new infrastructure funds for generic, shovel-ready projects, or even tax cuts, instead of collaborative plans that could transform regions.

Panelists at the NFMA 2022 annual conference said they aren’t holding out for advance refunding to be reinstated anytime soon.

The bulk of the first tranches of the $15 billion of IIJA funds will likely be used to figure out where lead lines are located, so states and water systems can determine the scope of the problem.

Federal Reserve Bank of Kansas City President Esther George said the “rough week in the equity markets” was not surprising, partially reflecting the central bank’s policy tightening, and doesn’t alter her support for half-point interest-rate hikes to cool inflation.

Issuer fears that ESG regulation will lead to disclosure trouble are overblown, the SEC’s muni office chief said Wednesday.

If the Federal Reserve raises its key interest rate somewhat above what it thinks is a “neutral” level for the economy and stops there, that should help bring inflation down from current elevated levels, Chicago Fed President Charles Evans said.

The U.S. economy won’t be able to avoid a bout of stagflation and markets have yet to tune into the risk of a significant slowdown in growth, said Mohamed El-Erian.

Federal Reserve Bank of St. Louis President James Bullard said he supports the central bank’s plan to raise interest rates in half-percentage-point steps at coming meetings.

Federal Reserve Chair Jerome Powell said no one should doubt the U.S. central bank’s resolve to curb the highest inflation in decades, including pushing rates into restrictive territory if needed.

Governance is the single most important ESG factor in public finance ratings, given the impact of governance structure, Fitch said.