Washington

The fallout from a 2017 federal fraud case is continuing to impact bond investors with the latest development involving the loss of tax-exempt status for bonds that were issued for two assisted living facilities in Georgia.

The Federal Reserve Bank of San Francisco announced Friday Mary C. Daly was named president and chief executive officer, effective October 1, 2018.

Long considered a dove, Federal Reserve Bank of Chicago President Charles Evans Friday expressed comfort with the inflation outlook and repeated his belief rates will become slightly restrictive. That led some observers to ramp up concern about the flattening yield curve.

Former Federal Reserve Chair Janet Yellen says the central bank should consider deliberately courting an economic boom to make up for a bust by promising to keep interest rates “lower-for-longer” after they are cut to zero.

Dealer firms are trying to comply with newer rules like markup disclosure, while regulators are finding some problems and working to communicate more clearly.

House Republicans want to make permanent the $10,000 cap on state and local tax deductions and the lower tax rates for individuals, both of which are due to expire at the end of 2025.

The report found that 61% of the 341 finance officers who participated in the survey anticipate negative future impacts on their city's financial health from the termination of advance refundings, while 35% said they already have seen negative impacts.

Interest rate hikes should proceed, but Federal Reserve Bank of Atlanta President Raphael Bostic warned that while tariffs haven’t become a huge concern yet, the possibility exists they will.

New York Gov. Andrew Cuomo sent letters to the Internal Revenue Service and to Treasury's Inspector General for Tax Administration threatening litigation and and asking for a probe of alleged undue political interference.

The Federal Reserve's Beige Book noted the economy expanded at a moderate pace for most districts, a small upgrade from the prior report.