Washington

The $40 billion budget for fiscal 2021 authorizes up to $5 billion of borrowing through the Federal Reserve’s Municipal Liquidity Facility.

Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. economy will recover from the highest unemployment since the 1930s with a rapid rebound that will push the jobless rate below 10% by December.

GFOA considers a minimum baseline level of reserves to be 16%.

The Federal Reserve has already unleashed a barrage of new policies to keep the economy out of depression. Investors reckon it’s lining up another one.

Without federal funding, many toll facilities will be forced to comply with bond covenant requirements, which could mean reductions in workforces and delays in capital projects, toll groups said.

Red tape and the need for more funding has slowed the process, according to the NLC.

The Fed says it has more ammunition; experts define what those bullets are.

The announcement comes at a pivotal time for the municipal market as the SEC released a statement earlier this month detailing the kinds of coronavirus disclosures municipalities should be making.

First finance officer from a K-12 school district to serve as GFOA president had to deal with coronavirus fallout.

GFOA will be launching a new online learning-management system by the end of the year to connect its members.