Washington

It will probably take “quite some time” for Federal Reserve officials to conclude the economy has made substantial progress following Friday’s disappointing jobs report, Chicago Fed President Charles Evans said.

SLGS are typically used by issuers of tax-exempt municipal bonds because of yield restrictions and arbitrage rebate requirements under the Internal Revenue Code.

Federal Reserve Bank of Minneapolis President Neel Kashkari said he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.

A rising appetite for risk across a variety of asset markets is stretching valuations and creating vulnerabilities in the U.S. financial system, the Federal Reserve said in its semi-annual financial stability report.

Refinitiv Lipper reported $584 million of inflows, $341 million of which went to high-yield, as investors pull back on reinvesting to pay tax bills with the May 17 tax filing deadline looming.

An increase to $30 billion from $15 billion on the PAB allotment overseen by the Department of Transportation was one suggestion a House panel heard Thursday.

The Biden administration wants to increase IRS funding for enforcement to close the gap between taxes owed and taxes that are paid.

The U.S. Treasury kept its quarterly auction of long-term debt, planned for next week, at a record size to help fund the government’s continuing wave of stimulus spending.

Treasury Secretary Janet Yellen said she was not predicting or recommending interest-rate increases when remarking earlier about the impact of fiscal spending on the U.S. economy.

The Remote and Mobile Worker Relief Act would set a 30-day in-state threshold before states could levy income taxes on nonresident workers.