Washington

Two Federal Reserve presidents say it's gotten harder to predict what will happen with the economy.

Rep. French Hill, R-Ark., said the SEC's temporary relief for MAs to facilitate some private placement deals without registering as a broker-dealer should not have been created through exemptive relief.

At least nine states have enacted across-the-board budget cuts in response to the sudden revenue shortfalls caused by the economic shutdown resulting from stay-at-home orders.

Protecting the tax-exempt status of municipal bonds and reviving Build America Bonds are priorities for the New Partnership on Infrastructure.

Despite criticism, the Municipal Securities Rulemaking Board said the calculator will help track the timeliness of secondary market disclosures.

The lawmakers argued in a letter to the Federal Reserve that suspending dividend payouts would be the "prudent course of action," allowing banks to build their capital cushions and continue lending during the coronavirus pandemic.

Recurring coronavirus outbreaks will probably hold back U.S. economic growth and leave unemployment at elevated levels in the coming years, Federal Reserve Bank of Chicago President Charles Evans said.

State auditors will continue to be represented on the Governmental Accounting Standards Board after Chairman David Vaudt ends his term June 30 although not as the chairman.

Municipal market participants assume there will be more volatility in the market in the months to come and that the federal government may need to up the ante on some of its current programs.

Municipalities tend to face challenges when calculating their net investment and capital asset calculations, accountants found.