Washington

Although there’s still no way to tell how long the COVID-19 shutdown will last, or how much economic damage will result, the Federal Reserve’s speedy descent to the zero lower bound will assist the recovery, according to a report.

Federal Reserve Vice Chairman Richard Clarida says the central bank has the tools needed to keep the U.S. out of a deflationary trap, even as the coronavirus deals a severe hit to the economy.

The MSRB wants to give dealers and muni advisors more time to implement amended rules and interpretive guidance as well as finish professional qualification and supervisory requirements.

The office of Illinois Attorney General Kwame Raoul informed a Cook County court it will not allow the Edelweiss lawsuit to be dismissed on public disclosure grounds.

Without an effective therapy or a vaccine for the novel coronavirus, the U.S. economy could face 18 months of rolling shutdowns as the outbreak recedes and flares up again, Federal Reserve Bank of Minneapolis President Neel Kashkari said.

Democrats proposed an additional $100 billion for hospitals and $150 billion for state and local governments.

States can still take necessary steps to make crucial changes to their budgets as the coronavirus pandemic hampers the economy.

The Municipal Liquidity Facility will purchase up to $500 billion of short-term notes.

COVID-19 will have a lasting impact on economic prosperity, said Federal Reserve Bank of Chicago President Charles Evans.

He served a third of his career as a senior managing director of Citi’s Institutional Clients Group, a role from which he retired in June 2019.