Washington

Federal Reserve Governor Lael Brainard said it will take “some time” to meet the conditions laid out by the U.S. central bank for reducing the pace of its massive bond purchases, while noting recent bond market volatility.

President Biden has gone on record favoring statehood, unlike his predecessor who slow-walked federal aid to the territory in the wake of Hurricanes Maria and Irma.

NACo and the NLC were among 400 groups that sent a letter Monday to senators stating “enthusiastic endorsement” for the $350 billion “in flexible aid."

The use of alternative trading systems is growing, accounting for 21% of all trades in 2020.

Federal Reserve Bank of Richmond President Thomas Barkin played down recent Treasury market volatility, in remarks that reinforce the message that the U.S. central bank is not yet troubled by the increase in yields.

A federal appellate court in April 2020 struck down a federal law denying residents of the island eligibility for the Social Security Supplemental Income program for the severely disabled.

Bills to expand the use of tax-advantaged bonds that are being reintroduced in the new Congress have favorable odds for being signed into law this year.

The shift was due mainly to the growth of separately managed accounts and other alternative ways that retail investors get involved in the market.

In a wide-ranging conversation, Manulife Investment Management Global Chief Economist & Global Head of Macroeconomic Strategy Frances Donald discusses the COVID pandemic, inflation, how the markets may be misreading the Fed, why economic indicators may not be telling economists what they need to know, ESG and green spending, and the economy. Gary Siegel hosts. (35 minutes)

Global bond yield move suggests financial markets are much more optimistic about the economy than the Fed.