U.S. Treasury Secretary pick Janet Yellen has established herself as an ally to state and local governments seeking federal pandemic relief, and her background in labor economics leaves her well-positioned to quarterback President-elect Joe Biden's infrastructure-heavy economic agenda. Biden tapped the former Federal Reserve chairwoman for the Treasury post Monday,

A judge rejected Puerto Rico bondholders' request for compensation from the U.S. government for Oversight Board-incurred losses. United States Court of Federal Claims Judge Richard Hertling released his opinion Monday in Altair Global Credit Opportunities Fund (A), LLC et al v. United States.

“There really is an opportunity for

The Cook County, Illinois, board of commissioners unanimously approved a $6.94 billion 2021 budget that filled a $400 million hole in the general and health system funds through cuts, federal funds, a draw on reserves and other measures. The deficit stemmed from both COVID-19-related wounds to tax revenue and rising structural

Now that it’s been given a new lease on life after the passage of Proposition 14, a statewide $5.5 billion ballot measure, California’s bond-funded stem cell research agency will re-write its budget. The California Institute for Regenerative Medicine was created in 2004 when voters approve Proposition 71, allocating $3 billion

Municipal bond buyers swarmed in and snapped up the JFK Airport $332 million refunding deal, which came to market on Tuesday. Sources told The Bond Buyer the offering was massively oversubscribed, with one source saying they heard billions of dollars in orders came in for the bonds. JPMorgan Securities was able

A muni broker agreed to pay $7,500 to settle charges he violated the fair dealing municipal securities rule after the Financial Industry Regulatory Authority found he altered documents and didn’t disclose conflicts of interest. Kevin Rast agreed Monday to pay that fine and agreed to a four-month suspension from any FINRA

The Federal Reserve’s bond-buying program is serving its purpose well at the moment, though the central bank could adjust the parameters if needed, New York Fed President John Williams said. “Going forward, as we watch how the economy is evolving, how the outlook is evolving, we can think about any adjustments

David Dinkins was remembered for his even-handedness during a tumultuous term as New York’s mayor from 1990 to 1993. Dinkins, the city’s first African-American mayor, died Monday night at his Upper East Side home. He was 93. Mayor Bill de Blasio confirmed his death, which came six weeks after the passing of

The consumer confidence index decreased to 96.1 in November from an upwardly revised 101.4 last month, The Conference Board reported Tuesday. The October index was originally reported as 100.9. IFR Markets predicted a 98.0 reading for the index. The present situation index slipped to 105.9 from 106.2, while the expectations index fell to