Washington

At stake, from SIFMA's perspective, is the potential of the SEC to revive the exemption in the future.

The legislation passed the Senate by 69-30 setting the stage for House lawmakers to work on it and for Senate Democrats to weigh a social infrastructure agenda.

Treasury has already halted the sale of state and local securities, known as SLGS.

Sen. Patrick Toomey, the ranking Republican on the Banking Committee, has argued that research by the Federal Reserve into these topics could result in “mission creep.” Fed officials have said their job includes fostering inclusive economic growth and ensuring the banking system is girded against financial risks posed by climate change.

The board will have 15 members for its fiscal year starting Oct. 1.

Effective spread data yielded interesting results about the way corporate and municipal bonds were treated by Fed backstop programs.

The Federal Reserve is on track to begin increasing interest rates in 2023 if the economy performs as policy makers are projecting, Vice Chairman Richard Clarida said Wednesday.

New York's governor denied allegations by state Attorney General Letitia James' office that he engaged in unwanted groping and comments of a sexual nature.

The board decided last month it would seek commission approval to tweak rules related to mandatory disclosures.

President Joe Biden has a tough decision in choosing the next Federal Reserve chair: Play it safe by giving Jerome Powell a second term or take a chance on a liberal like Lael Brainard, who would please progressives in Congress yet potentially agitate Wall Street.