Washington

New York Federal Reserve President John Williams said the transition away from Libor “continues to be of paramount importance.”

They are pushing the U.S. Senate for up to $36 billion, citing the devastating effects from COVID-19.

The U.S. central bank should consider holding off on raising interest rates until inflation is above its 2% target, Philadelphia Fed President Patrick Harker said.

A top Federal Reserve official is issuing a warning about fast-growing and largely unregulated shadow lenders.

Uncertainty makes downside risks prevalent, and the Fed will need to be accommodative when the crisis ends, according to Lael Brainard.

Illinois paper is trading at tighter spreads than it did amid the original coronavirus surge, though they remain much higher than in February.

Coronavirus-related disclosures last week reached to just over 600 filings, but it is still a far cry from just less than a month before which saw 1,200 filings.

Gov. Phil Murphy reached a deal with Democratic state legislative leaders to pass nearly $10 billion of borrowing to deal with COVID-19 pandemic revenue shortfalls. The deal faces a legal showdown with Republican leaders.

Six states took revenue hits above 30%, according to report.

During a Brookings Institution annual conference, the Fed's Kent Hiteshew said it is continuing to monitor the market and if extra help is needed, the Fed is poised to consider it.