Washington

The Federal Reserve raised borrowing costs for the fourth time this year, ignoring a stock-market selloff and defying pressure from President Donald Trump, while dialing back projections for interest rates and economic growth in 2019.

The tax fix is being lost in the rush by Congress to enact a temporary spending measure to keep the government operating through Feb. 8.

A lone large deal came into an even stronger municipal bond market, as all eyes are on the Federal Open Market Committee.

A few deals trickled into a stronger market, ahead of Wednesday’s interest rate announcement.

The survey of securities firms showed pressures caused by unfunded pension obligations is expected to be the biggest issue for the muni market next year.

The Treasury Department announced its auction closing schedule for the holiday weeks.

The Municipal Securities Rulemaking Board is establishing a formal Academic Program as part of its mission to support academic and other researchers.

Market participants will focus on reading the tea leaves of the Fed statement Wednesday.

The municipal bond market will see a week of meager issuance, as all eyes are on the Federal Open Market Committee and its upcoming meeting.

While bond market prognosticators are confident the Federal Open Market Committee will raise the fed funds rate target by 25 basis points this week, they remain less certain on the outlook for 2019.