Washington

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

A senior White House economic aide said the decision on selecting the next central bank chief will come after a thorough “process.”

Federal Reserve Chair Jerome Powell said that while the U.S. economic recovery is “making real progress,” the gains have been uneven following a downturn that cut hard along lines of race and income.

Signs of excess risk taking in financial markets show it’s time for the U.S. central bank to start debating a reduction in its massive bond purchases, said the president of the Dallas Federal Reserve, breaking ranks with Chair Jerome Powell.

Passage of the bill Thursday authorizes programs to receive funding, though money would still need to be appropriated through an appropriations process or a comprehensive infrastructure bill.

The key benchmark that the Federal Reserve targets to control monetary policy dropped for the first time this month, dragged down as growing imbalances in the Treasury-bill market weigh on short-term dollar rates.

Public finance groups hope that the Biden administration will show the same support for tax-exempt bonds that House Democrats do.

SEC Chair Gary Gensler's pick for enforcement director resigned just days after being announced.

The surprise move was announced Wednesday in a Securities and Exchange Commission statement.

The municipal market largely ignored the FOMC news that it would hold rates steady. New Jersey was 20 times oversubscribed and ICI reported $2.5 billion of inflows into long-term municipal bond mutual funds.