The Federal Reserve has been facing high inflation rates and has expressed hesitation to make any immediate interest rate cuts. Analysts are now anticipating that interest rates will remain at a range between 5.25% and 5.50% until September. There is a growing concern that there may not be any rate cuts for the rest of
Politics
The recent announcement by State Treasurer Todd Russ regarding the addition of Barclays to Oklahoma’s list of investment banks deemed to be “boycotting” the fossil fuel industry has sparked discussions about the economic implications for the state. This move makes Barclays ineligible for state and local government contracts, joining other major banks like Bank of
Hawaii Governor Josh Green faced a significant setback when he failed to convince lawmakers to consider legislation that would have allowed struggling Hawaii Electric Co. (HECO) to issue bonds backed by a rate increase. Senate Bill 2922, introduced by Senate Commerce and Consumer Protection Chair Jarrett Keohokalole, aimed to enable HECO to issue up to
The U.S. Department of Transportation recently made headlines with their announcement of the first-ever Transportation Infrastructure Financing and Innovation Act loan for a transit-oriented development project. This groundbreaking move is set to revolutionize the way we approach transportation infrastructure projects in the future. Let’s delve deeper into the implications of this significant development. The 2021
President Biden’s recent efforts to revise environmental permitting rules in line with his climate and environmental justice goals have faced significant opposition from construction groups and Republicans. They argue that these changes will result in delays for crucial infrastructure projects and lead to increased costs. The administration’s final rule, aimed at revising the National Environmental
Transportation Secretary Pete Buttigieg recently presented the Biden administration’s priorities for the upcoming fiscal year to House lawmakers. These priorities encompass a broad spectrum, ranging from the maintenance of existing infrastructure to the promotion of innovative projects such as high-speed rail. One of the key focus areas outlined by Buttigieg is the prevention of infrastructure
In a recent development, the voters of Shreveport, Louisiana, approved $256 million of general obligation bonds in a landmark decision. The allocation included $125 million for streets and drainage, $82 million for water and sewer, and $49 million for police and fire infrastructure. The overwhelming majority support for the first two bonds at 80% in
Tribal governments have long faced obstacles when it comes to accessing tax-exempt financing. In a recent paper titled “Tax code constraints limit tribal tax-exempt bonding,” Federal Reserve Bank of Minneapolis economists highlighted the disparities between tax-exempt bonds issued by tribes versus state and local governments. The limited access to this financing tool has hindered tribal
As of now, it seems that municipal bonds for water infrastructure may not be as necessary as they once were. Data from 2023 shows that bond issuance for water and sewer purposes has actually declined, despite the ongoing need for improvements in this sector. This decline could be attributed to the availability of federal grants
The recent economic data showing a slowdown in GDP growth has had a significant impact on municipal markets. Following the rise in U.S. Treasuries and higher yields, municipals experienced losses, pushing yields on Triple-A bonds to increase by up to five basis points. In particular, the two-year munis-to-Treasury ratio reached 64%, indicating a shift in