Washington

The U.S. economy expanded “modestly” through mid-November amid steady consumer spending and some brighter signs from manufacturers, a Federal Reserve survey showed.

In formal comments filed with the federal government and separately to GASB, municipal finance groups have given the regulators generally high marks.

Each state would be guaranteed $25 million in bonding authority each year, with an additional $1.25 billion in authority allocated among the states according to rural population.

Federal Reserve Board Gov. Lael Brainard presented her alternative to quantitative asset purchases.

A bus line in Flagstaff received $17.3 million in grants to relocate its connection center and buy zero emission buses.

Federal Reserve Chairman Jerome Powell struck an upbeat tone in gauging the ability of policy makers to extend the record U.S. economic expansion, while signaling interest rates would probably remain on hold.

A lawsuit challenges the May 2019 voter approval of the bond measure, which passed with more than 71% of the vote. None of the debt has been issued yet.

Analysts are not convinced the Fed's mid-cycle adjustment will deliver the elusive soft landing.

In 2012 John Cross became the first person to head the independent Office of Municipal Securities at the U.S. Securities and Exchange Commission.

The repeal will help states and cities move forward with bonding and future projects, especially as spring construction season is around the corner.