Washington

With the Federal Reserve bringing the target rate down to the zero lower bound, communication takes on a vital role, and, if used properly, can enhance Fed actions.

Overall $274.231 billion of the coronavirus emergency supplemental appropriations package goes to state and local governments and communities.

First Manhattan Co. bought municipal securities from an unaffiliated dealer without making a reasonable effort to obtain fair and reasonable prices, FINRA said.

The short end in particular was rebounding after Fed announced it would include variable rate demand obligations and short-term paper to its balance sheets.

Public finance advocates said the Senate bill has been broadened to authorize the Federal Reserve to purchase all types of bonds that are sold on the secondary market.

The short-term funding for airports and transit agencies in stimulus bills won’t be a substitute for the stability of long term financing.

President Donald Trump said he called Federal Reserve Chairman Jerome Powell on Monday to thank him for his efforts to fight an economic slowdown from the coronavirus outbreak.

New York MTA and 10 other transit systems have cited the crippling effects of ridership drops due to COVID-19.

Federal Reserve Bank of St. Louis President James Bullard said the U.S. should declare the equivalent of a three-month break for nonessential businesses to fight the spread of the coronavirus.

Senate Democrats voted as a bloc Sunday evening to stop consideration of an estimated $1.6 trillion relief package because of its perceived shortcomings, including the lack of provisions to assist state and local governments.