Washington

Susan Collins officially took office Friday as the president of the Federal Reserve Bank of Boston, making history in becoming the first Black woman to lead a regional Fed bank.

Puerto Rico-based Ocean Capital is trying to gain control of several local tax-free income funds by electing members to the funds' board of directors, but current board members have refused to give up their seats.

Largely attributable to Fed interest rate increase-led volatility, outstanding municipal bonds lost $300 billion of market value in the first quart of 2022, a Municipal Securities Rulemaking Board report said.

The next generation of Senate Banking Committee Republicans has signed on to the latest salvo by Patrick Toomey — who will soon leave Congress — against the Federal Reserve Bank of Kansas City. That means the master accounts issue will live on.

Federal Reserve Chair Jerome Powell said the U.S. economy is in “strong shape” and the central bank can reduce inflation to 2% while maintaining a solid labor market.

Central bankers must not be complacent about increases in long-term inflation expectations and should act forcefully to curb rising price pressures, said Federal Reserve Bank of Cleveland President Loretta Mester.

Disclosure around ESG-related risk factors to credit as well as for ESG-labeled bonds remains a mixed landscape that reflects the heterogenous nature of the muni market itself.

The U.S. Conference of Mayors launched the P3 task force as cities prepare for an influx of federal infrastructure aid.

Federal Reserve officials will discuss whether to raise rates by 50 basis points or 75 basis points when they meet next month, with the decision being determined by economic data, New York Fed President John Williams said on Tuesday.

Hilltop's Tom Kozlik joins Bond Buyer Editor Kyle Glazier for an in-depth discussion on Tom's research and what to expect in the months ahead.