Washington

The agreement includes a $125 million increase in Community Development Block Grants and a $245.5 million increase in grants to state and local law enforcement.

The Federal Reserve should keep interest rates on hold next year, unless there’s a material change in the outlook for the U.S. economy, Dallas Fed President Robert Kaplan said.

Recession fears, which persisted earlier this year, have subsided and Federal Reserve Bank of Boston President Eric Rosengren does not expect a downturn unless a major shock occurs.

A new survey by the National Association of State Budget Officers reports these reserves had a median balance of 7.6% of a state’s general fund in fiscal 2019, compared with 4.7% in fiscal 2007 before the onset of Great Recession in December of that year.

The National Federation of Municipal Analysts has consistently called for steps to reduce investors' reliance on stale financial information.

With markets still digesting Friday’s news, one thing is clear: the Federal Reserve will keep rates steady.

Inflation remains tame, and although the consumer price index has ticked up, producer prices surprised to the downside Thursday.

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.