Washington

As expected the Federal Open Market Committee left rates at a range of 1.5% to 1.75%, with no officials dissenting, and the updated forecasts call for rates to remain there through 2020.

The additional revenue from permanently increasing the top individual tax rate to 39.6% from the current 37% would help pay for a temporary two-year suspension of the SALT cap.

The Nov. 22 notice opened a 30 day window for the issuer to make a case that $877.9 million of bonds not be stripped of their tax-advantaged status.

John Hicks has left his position as executive director of NASBO to become Kentucky's budget director.

A steep decline in school district reserves drove a two-notch downgrade and has drawn a subpoena from the Securities and Exchange Commission.

The SEC chairman’s comments are consistent with his record, which has included repeated calls for the MSRB to take steps to be sure investors are aware that issuer financials filed to EMMA can often be many months old.

With Federal Reserve officials offering a united front on keeping interest rates steady, attention will focus on the Summary of Economic Projections and the repo market.

The proposal would impact the private placement business and may require amendments of MSRB rules.

As the Federal Open Market Committee convenes for its final scheduled meeting this year, one where President Trump kept upping the political pressure, the 2020 elections threaten to make the situation worse.

Paul Volcker, the former Federal Reserve chairman who broke the back of U.S. inflation in the 1980s and three decades later led President Barack Obama’s bid to rein in the investment risk-taking of commercial banks, has died.