Washington

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.

Especially helpful is the MSRB’s weekly report aggregating disclosures made to the EMMA website that describe the impact of COVID-19 on state and local governments’ financial condition and operating status.

The National League of Cities and other groups such as Moody’s Analytics are warning that a nationwide economic recovery will be at risk of stalling if Congress fails to provide more aid.

Federal Reserve Bank of St. Louis President James Bullard said a strategy of capping Treasury yields out to a certain maturity may not work and such yield curve control seems unnecessary with the market pricing in rates near zero out into the future.

Bond analyst Joseph Krist examines the types of debt most vulnerable to the coronavirus hit. He also discusses the Federal Reserve's Municipal Lending Facility. Recorded June 10. Paul Burton hosts.

Highlights of a House Democrat legislative package include a new series of taxable direct-pay bonds that would start with a federal 42% subsidy for interest expenses.

Lawyers say there could be some nuanced changes on how the SEC approaches enforcement if Clayton does leave for the U.S. Attorney job.