In a recent conversation at the New York Times’ Dealbook Summit, Federal Reserve Chair Jerome Powell addressed concerns surrounding his position, especially in the context of the Trump administration’s expected influence on Federal Reserve policy. Specifically, Powell was questioned about the notion of a “shadow chair,” as proposed by Scott Bessent, who was nominated for
Politics
In a remarkable shift within the landscape of U.S. infrastructure financing, Brightline’s recent $3.2 billion recapitalization has made its mark as a groundbreaking achievement, honored with The Bond Buyer’s prestigious 23rd annual Deal of the Year award. This recapitalization is not merely a financial restructuring but a transformative initiative that has set a benchmark for
As regulatory frameworks evolve in response to the complexities of financial reporting, the Financial Data Transparency Act (FDTA) stands out as a critical piece of legislation that will impact municipal bond issuers across the United States. Given its enactment in December 2022, the FDTA obliges municipalities, states, and various tax-exempt bond issuers to shift their
As the year draws to a close, discussions around interest rates at the Federal Reserve are intensifying, particularly as Fed Governor Christopher Waller hints at the possibility of rate cuts in the coming months. In a recent address, Waller emphasized that reducing the federal funds rate by an additional 25 basis points may not compromise
As the 118th Congress nears its conclusion, lawmakers are gearing up for a crucial week that promises to be packed with legislative activity. With critical deadlines looming, including the expiration of the current government funding resolution on December 20th, Congress faces the urgent task of passing essential funding measures, as well as the National Defense
In the financial world, credit ratings serve as vital indicators of a city’s fiscal health and governance competency. The recent downgrade of Manhattan, Kansas’ credit rating from Aa3 to A1 by Moody’s Ratings epitomizes the precarious nature of municipal finance amid deteriorating circumstances. This notable shift signals significant alarm not only for municipal stakeholders but
The Washington, D.C., City Council has set a transformative agenda that aims to bolster both the sports culture and local economy through significant infrastructure investments. The recent endorsement of funding for the baseball stadium, complemented by the $515 million refurbishment of Capital One Arena, marks an essential step towards revitalizing the city’s sports landscape. This
In light of recent devastating hurricanes, the American Public Transportation Association (APTA) is advocating for emergency funding to bolster the Federal Transit Administration’s Public Transportation Emergency Relief program. This appeal comes as cities across the United States grapple with the aftermath of Hurricanes Helene and Milton, emphasizing the need for robust federal support in rebuilding
The recent nomination of Scott Bessent as Treasury Secretary by President-elect Trump has stirred positive reactions among leaders of the municipal (muni) bond market. This appointment carries a vital weight as it plays a crucial role in reshaping tax policy during an unpredictable economic climate. Chris Iacovella, the president and CEO of the American Securities
As the climate crisis escalates, American states are preparing for a significant increase in municipal bond issuance over the next decade. This shift aims to facilitate the funding of climate-resilient infrastructure—an initiative that has become crucial amidst rising extreme weather events. According to a recent brief from the Pew Charitable Trusts, states are tapping into