President-elect Joe Biden took a significant step this week toward addressing the damage to the U.S. economy inflicted by the coronavirus pandemic, naming an economic team led by his choice for Treasury secretary, former Federal Reserve Chair Janet Yellen. In Yellen, Biden will have a battle-tested policymaker who can draw on

The A Line train, which opened

WASHINGTON — The Federal Reserve and the Treasury Department have agreed to extend the life of four emergency lending facilities, created in response to the coronavirus pandemic, to March 31. Treasury Secretary Steven Mnuchin sent a letter to Fed Chair Jerome Powell Monday approving the extension of the Fed’s Commercial Paper

The Los Angeles Department of Water and Power heads to market Dec. 8 with $248 million in water system revenue bonds that carry a negative outlook from Fitch Ratings. The bond proceeds will be used to refund all or a portion of LADWP's water system revenue bonds, series 2011A and series

Illinois will borrow $2 billion through the Federal Reserve’s short-term lending program that expires at the end of the year, Gov. J.B. Pritzker announced Wednesday. The state had been weighing how much to tap of the $5 billion in authority granted by state lawmakers in the spring when they signed off

Sen. Mike Crapo, R-Idaho, was a

COVID-19 related curbs on economic activity in Massachusetts triggered a downgrade on Wednesday from S&P Global Ratings, which lowered its rating on the commonwealth’s Series 2004 special obligation dedicated tax revenue bonds and Series 2005 revenue refunding bonds two notches to BBB-plus from A. The outlook is negative. “The downgrade reflects a

Federal Reserve officials discussed providing more guidance on their bond-buying strategy during their Nov. 4-5 policy meeting. “Many participants judged that the Committee might want to enhance its guidance for asset purchases fairly soon,” according to meeting minutes published Wednesday by the Fed. In addition, “most participants judged that the guidance for

The municipal market firmed Wednesday as it got ready for the Thanksgiving holiday and looked ahead to next week’s supply slate. IHS Ipreo estimates volume for the week of Nov. 30 will be $7.68 billion, up from the under $1 billion seen this week. The calendar is composed of $6.99 billion

The pre-thanksgiving feast of economic data released on Wednesday showed momentum seen earlier in the quarter is waning, according to one analyst, while another saw "malaise," as the number of coronavirus cases rises and governments add restrictions. “After the data today, it does appear as if the momentum from the start