Washington

Federal Reserve Bank of Atlanta President Raphael Bostic said he expects U.S. unemployment will be around 10% in the fourth quarter, with an uneven recovery from the COVID-19-induced recession.

Wearing masks and following guidelines will help boost the economy into recovery.

House Natural Resources Committee Chairman Raul Grijalva last month introduced a bill to amend the 2016 Puerto Rico Oversight, Management, and Economic Stability Act.

The Federal Reserve put a spotlight on job losses and risks to the financial sector in its semi-annual report to Congress released Friday.

Many observers expect the Fed to move to yield curve control in September. But not everyone is sure this move will be needed.

The National League of Cities estimates only $8.8 billion of the $150 billion Coronavirus Relief Fund had gone to municipalities and counties under 500,000 population as of June 10.

Municipalities have been counting on another round of stimulus from the federal government.

One day after the FOMC said it would keep rates where they are, the short-end of the yield curve inverted.

Recovery seen next year, but rates stay low.

Spoiler alert: Not much. What makes a May Friday a relative oddity is that it was just the first time in 2020 the 30-year UST ended the day unchanged, the second longest span of continuous yield activity since the U.S. government began benchmarking maturities in the late 1970s.