Washington

The Municipal Securities Rulemaking Board wants to prepare broker-dealers for a forthcoming seismic regulatory change.

Federal Reserve Chairman Jerome Powell said the U.S. central bank had made great progress in its pursuit of full employment and stable prices but was on the lookout for threats to the economy amid turmoil in financial markets.

Federal Reserve Bank of Cleveland President Loretta Mester suggested Tuesday three rate hikes would be appropriate this year and next.

The Securities and Exchange Commission's spending would be beefed up and its focus on retail investors and self-regulators in the municipal market would be increased under the fiscal 2019 budget request made public Monday.

Among the many programs proposed for elimination by the president's fiscal 2019 budget are Community Development Block Grants, the Low Income Home Energy Assistance Program, the Community Services Block Grant, HOME and the Housing Trust Fund.

The final bill had several elements which will impact the municipal markets, and could potentially result in significant structural changes.

President Trump's infrastructure plan, detailed for reporters by a White House official this weekend, will expand the eligibility of tax-exempt private activity bonds.

The group wants to retool itself to reflect significant changes in the analyst community, as well as to lay the foundation for the next generation of muni analysts.

Congress has enacted four short-term continuing resolutions since the Oct. 1 start of the 2018 fiscal year, putting a strain on state and local budgets.

As the Baby Boom generation retires, economic growth may slow and fiscal deficits could grow, complicating monetary policy, Federal Reserve Bank of Kansas City President Esther George said late Thursday.