Washington

Plans in Illinois, Kentucky, Connecticut and New Jersey still show low funded ratios, while the best funded plans experience better-than-average returns.

The U.S. economy grew at a slight-to-moderate pace in March and early April, though a few districts “reported some strengthening,” a Federal Reserve survey showed.

The Municipal Securities Rulemaking Board is making its MuniEdPro free for all market participants.

On deck for the meeting scheduled for next week, the MSRB's Board of Directors will discuss pennying, upcoming EMMA enhancements and financial disclosure timeliness by issuers.

The White House is interviewing candidates to potentially replace Herman Cain and Stephen Moore as Donald Trump’s picks for the Federal Reserve Board, the president’s top economic adviser said.

Fallback language is expected to be released before year-end by the Alternative Reference Rates Committee convened by the Federal Reserve and ISDA.

The SEC’s Technology and Electronic Trading Subcommittee meets on pennying.

Members of the Federal Open Market Committee appear to have raised their inflation target from about 1.5% in 2000 to 2% after the Great Recession.

Since future rate decisions will be based on data, the next move by the Federal Reserve will be up if inflation gains momentum, and down if activity softens too much or inflation cools further.

The Federal Reserve has monetary policy in a good position at current interest rate levels and may not need to make changes again until well into next year, Chicago Fed President Charles Evans said.