Washington

Municipal Securities Rulemaking Board CEO Mark Kim talks about his priorities after recently being named CEO in October, changes to its reduced board size and transparency of the board. Sarah Wynn hosts. (34 minutes)

President-elect Joe Biden plans to nominate former Federal Reserve Chair Janet Yellen to serve as his Treasury secretary.

The Municipal Securities Rulemaking Board consolidated a few positions, eliminating its chief compliance officer role and promoting its CFO.

State spending grew 7.8% to cover the expenses of battling COVID-19.

Fed Governor Lael Brainard has slipped from among top contenders for Treasury secretary under Joe Biden, according to people familiar with the matter, as the president-elect’s team winnows its choices for key positions.

With rates at the effective lower bound, increased asset purchases will be the Fed’s main monetary policy easing tool going forward, and that's what analysts will be scanning the FOMC minutes for.

The Federal Reserve said Friday it would comply with a Treasury Department request to return unused funds meant to backstop five emergency lending programs, moving to tamp down a public rift that arose a day earlier.

Analysts, issuers and lawmakers have mixed responses to the closure of the Municipal Liquidity Facility with some saying the move puts the municipal market in a precarious spot as COVID-19 continues to ravage the country.

While the facilities' availability inspired market confidence, the fact that $455 billion remains unused suggests shutting down the programs is unlikely to cause major problems, analysts say.

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