Washington

The Fed’s new program, however, will not be enough to negate the serious financial consequences that are likely to befall some local governments as they begin to feel the full effects of shutting down the economy. Both the Fed and Congress need to do more.

When April data becomes available in about a month, it is expected to beging showing the full force of the shutdown of nationwide economic activity.

MSRB Chief Market Structure Officer John Bagley will join the Federal Reserve Bank of New York for eight months to lend his municipal market knowledge toward the Fed’s new Municipal Liquidity Facility.

The Center on Budget and Policy Priorities said bankruptcy "could significantly raise states' cost of issuing bonds to pay for major transportation projects and other investments that boost the economy."

Economists also expect the Fed's balance sheet to more than $10 trillion as policymakers look to lift the country from a recession brought on by the coronavirus pandemic.

At a virtual quarterly board meeting this week, the board discussed its search for the next CEO, which has been affected by the virus.

A federal judge denied the SEC's motion for summary judgement against John Paulsen, setting the stage for a trial.

McConnell said he favors changing the federal bankruptcy code to allow state governments to file for reorganization.

Issuers say Clayton’s comments on corporate disclosure from earlier this month can be applied to municipal disclosure.

The president said he envisions infrastructure as “a big part” of the next round of emergency legislation.