In the complex interplay between government agencies and political administrations, the role of the Federal Reserve (Fed) often comes to the forefront, particularly regarding its independence in monetary policy. Recent remarks by Fed Chair Jerome Powell during an onstage discussion at the New York Times’ Dealbook Summit provide insight into the current state of this
Politics
The Financial Data Transparency Act (FDTA), enacted in December 2022, has become a focal point of contention for many municipal bond issuers. While designed to enhance the accessibility and analysis of financial data by converting disclosures into a machine-readable format, the act has been criticized for imposing what some stakeholders perceive as unnecessary burdens on
Brightline has made headlines with its groundbreaking $3.2 billion recapitalization, a transaction that not only earned The Bond Buyer’s 23rd annual Deal of the Year award but also sets a new precedent in the arena of U.S. infrastructure financing. This deal stands as the largest private-activity bond issuance in American history and marks a watershed
As the year draws to a close, discussions surrounding interest rate adjustments have taken center stage in the realm of U.S. monetary policy. With ongoing debates among key Federal Reserve officials, the potential for rate cuts looms large. A recent speech by Fed Governor Christopher Waller shed light on the delicate balancing act faced by
As the 118th Congress approaches its conclusion, lawmakers are preparing to return to Capitol Hill for a significant lame-duck session. This period, expected to wrap up on December 20, bears great importance due to the pressing need for government funding, national defense authorization, and potential disaster relief measures. These critical issues, however, overshadow more specific
Recent financial struggles have resulted in a significant downgrade of Manhattan, Kansas’s credit rating by Moody’s Ratings Agency. Initially rated at Aa3, the city now finds itself at A1, with warnings that further downgrades are possible. This alarming shift comes on the heels of long-standing issues surrounding the city’s financial audits—specifically, a tardy annual audit
In a significant development for the District of Columbia, the City Council has approved financial backing for a grand renovation of the Capital One Arena, alongside a firm commitment to upgrade the neighboring baseball stadium. This $515 million initiative stands as a crucial step for economic enhancement, spearheaded by D.C. Mayor Muriel Bowser who emphasizes
In recent months, the American Public Transportation Association (APTA) has been raising increasing alarms about the pressing need for congressional intervention to support transit agencies. After devastating hurricanes, notably Helene and Milton, many public transportation systems across the United States are left reeling. APTA is advocating for a substantial emergency appropriation of $57.5 million directed
The recent nomination of Scott Bessent as Treasury Secretary by President-elect Trump has sent ripples throughout the municipal bond market and beyond. Observers within the financial community are both optimistic and apprehensive, recognizing the profound implications his appointment will hold for tax policy and fiscal strategy. With a background steeped in financial markets, Bessent’s track
As climate change continues to escalate, the pressure on municipal infrastructures increases dramatically, obligating states to devise innovative financing strategies. This transformation is exemplified by a recent brief from the Pew Charitable Trusts that highlights how states are mobilizing funding to address climate-resilient infrastructure needs. A significant shift in public policy is taking place in