Washington

President Joe Biden said he believes the surge in U.S. inflation is temporary and that he has told Federal Reserve Chairman Jerome Powell that he respects the central bank’s independence.

Some Democrats are weighing the possible reappointment of Federal Reserve Chairman Jerome Powell, the Financial Times reports, citing California Democratic Congressman Brad Sherman.

U.S. Treasury Secretary Janet Yellen said the question of whether to nominate Federal Reserve Chair Jerome Powell for a second term is a conversation for her and President Joe Biden.

U.S. Treasuries have been volatile the past five sessions, with municipals largely ignoring the ride. Participants mostly have accepted current rates and ratios as large amounts of cash slosh around a market with strong technicals.

Hospital consolidation continued though the coronavirus pandemic; how the Biden administration's pro-competition executive order will play out remains unknown.

Brian Egan will take up the mantle of being the primary voice for bond lawyers in Washington.

Alleged supervisory failures led to unsuitable trading patterns of Puerto Rico and other bonds, FINRA found.

Federal Reserve Bank of St. Louis President James Bullard said the central bank has met its goal of achieving “substantial further progress” on both inflation and employment, urging policy makers to move forward in reducing stimulus.

Ed Sisk, a managing director and head of public finance at Bank of America Merrill Lynch, has been MSRB chair since Oct. 1, 2019.

Municipals outperformed U.S. Treasuries for a third sessions moving the 10-year municipal to UST ratio below 60%.