Washington

A majority of states leverage their revolving funds to issue municipal bonds to finance local projects.

Only nine states reported making midyear budget cuts totaling $830 million this year compared to 22 states that cut $3.5 billion in 2017.

State officials say the new funds will increase the local share of funding for Gateway and improve the project's chances of getting federal funds.

Federal Reserve Board Chairman Jerome Powell said he will hold a press conference after every Federal Open Market Committee meeting, beginning in January.

Navnoor Kang, a former director at the New York State Common Retirement Fund, wants home confinement rather than prison.

Federal Reserve officials raised interest rates for the second time this year and upgraded their forecast to four total increases in 2018, as unemployment falls and inflation overshoots their target faster than previously projected.

The Government Finance Officers Association said Tuesday it generally supports most of the recommendations an SEC panel plans to discuss in Atlanta later this week.

The Senate Banking Committee Tuesday advanced the nominations of Richard Clarida and Michelle Bowman for seats on the Federal Reserve Board of Governors.

The proposed rules would clarify that an institutional investor could take part in a public-private partnership for a bond-financed project without making the bonds taxable.

An advisory panel suggested modifying the fee structure for tax law violations to encourage more issuers to self-report them.