Washington

Members of the economic research department of the Federal Reserve Bank of San Francisco take a look at the relationship between the effective lower bound interest rates and inflation.

A deteriorating market could change the calculus, but with rates at record lows, the MLF might not be needed for most issuers.

The gap between the two sides includes state and local aid, with the administration offering to agree to $200 billion while the HEROES Act favored by Democrats would provide $915 billion.

The board re-elected Sisk as MSRB chair amid the pandemic and an ongoing search for a new CEO.

Changes to the MSRB come a year after the proposal of legislation that would decrease the size of the board and increase the cooling off period for public board members.

Initial jobless claims were lower after two weeks of increases, suggesting the trend may be downward again.

Sources say compromises on top line issues like unemployment insurance spells a higher likelihood for a COVID-19 relief bill to pass and more aid to state and local governments.

The U.S. Treasury expanded its plans for the issuance of longer-term debt in coming months, after depending mainly on shorter-dated bills to fund the federal government’s record spending surge to address the COVID-19 crisis.

The U.S. economy needs more support than originally thought as a resurgence in the coronavirus pandemic weighs on growth, said Federal Reserve Bank of San Francisco President Mary Daly.

Dealers are not seeing demand and are therefore not trading inventory this summer, sources say.