Washington

Demonstrating compliance with pricing and supervision rules has been challenging in the COVID-19-influenced market.

Two of the Federal Reserve’s regional bank presidents expressed some confidence the U.S. economy can rebound strongly after coronavirus restrictions on consumers and businesses are lifted.

The longtime muni banker and former Treasury official adds serious muscle to the Fed's municipal securities expertise.

The Federal Reserve is poised to spray trillions of dollars into the U.S. economy once a massive aid package to fight the coronavirus and its aftershocks is signed into law.

"Like all businesses, we are operating in a period of uncertainty which may last several months," Virgin Trains/Brightline President Patrick Goddard said.

Speaker Nancy Pelosi, D-Calif., pledged Thursday the massive spending bill would pass on a voice vote even though some objections were expected during a Friday morning vote.

Benchmark yields fell another 50 to 60 basis points, dropping them more than 1.5% in just four days. Meanwhile, a $450 million taxable new-issue came to market and was eight times oversubscribed.

Smith, who headed the restructuring practice at Chicago-based McDermott Will & Emery, worked on nearly every major muni bankruptcy of the past 20 years.

Morgan Stanley, Ameritas Investment Company LLC and a former Stifel broker agreed this week to pay the fines for violating multiple muni securities rules.

Federal Reserve Chairman Jerome Powell said the central bank will maintain its muscular efforts to support the flow of credit in the U.S. economy as Americans hunker down from the coronavirus pandemic.