Washington

The IRS has sent a material event notice to the Hennepin Schools Building Company regarding the tax-exempt status of revenue bonds issued in 2021based on the non-filing of IRS form 990.

Separately, the surface transportation bill could see a markup on April 29.

President Donald Trump said he would fire Federal Reserve Chair Jerome Powell if he does not resign after his term as head of the central bank ends in May. Trump made a similar threat against Fed Gov. Lisa Cook before attempting to fire her last August.

Kevin Warsh's financial disclosures show significant wealth, likely well-over $100 million, beyond that of even Federal Reserve Chairman Jerome Powell, who came from the private equity world.

As Congress crafts the next surface reauthorization bill, states want to retain control over the bulk of the formula highway funds.

Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.

With the "fragile" ceasefire in the United States-Iran conflict underway, the risk of higher rates beyond those from March has largely been removed, said BofA strategists.

The state does not have the bonding capacity to independently rebuild the American Legion Bridge, the feds say. The state continues to hope for a federal grant to help cover the cost.

"I find this a very encouraging appointment," Peter Chan, a partner at law firm Baker McKenzie, said of Woodcock's appointment.

A second budget reconciliation bill is moving closer to reality, creating a mixed bag of challenges and opportunities for the municipal bond market.