Powell hearing canceled as nation honors George H.W. Bush

December 03, 2018, 11:24 a.m. EST 1 Min Read

Federal Reserve Chairman Jerome Powell’s testimony to Congress scheduled for Wednesday has been canceled as the nation pauses to honor the late President George H.W. Bush, according to a staffer with the Joint Economic Committee.

090110-N-4408B-453 NORFOLK (Jan. 10, 2009) Former President George H.W. Bush addresses delivers his remarks at the commissioning ceremony for the aircraft carrier USS George H.W. Bush (CVN 77) at Naval Station Norfolk, Va. Bush delivered the keynote address at the commissioning. The Navy's newest, and final, Nimitz-class aircraft carrier is named after the World War II naval aviator and 41st president of the United States. (U.S. Navy photo by Mass Communication Specialist 3rd Class Micah P. Blechner/Released)

Connie Foster of the bicameral panel in Washington said there’s no date yet for a rescheduled hearing, which was originally set for 10:15 a.m. in Washington on Dec. 5.

President Donald Trump designated Wednesday as a national day of mourning after the 41st U.S. president died at his home in Houston on Friday.

Also, the nonfarm productivity and unit labor costs report will be released on Thursday, as will the Institute for Supply Management non-manufacturing report and the ADP employment report.

The Beige Book will be released at 2 p.m. Wednesday, as scheduled.

Bloomberg News

MORE FROM BOND BUYER

Secondary bond market

Munis a touch firmer; FOMC minutes show Fed not in rush to cut rates

"The forces of municipal fundamental and technical measures are setting up a reconciliation against higher UST yields," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

By Jessica Lerner

6h ago
Infrastructure

High-speed rail from L.A. to Bay Area wins final environmental approval

The environmental clearance marks a regulatory milestone, but major funding shortfalls remain.

By Caitlin Devitt

7h ago
Primary bond market

Large redemptions bode well for muni market performance

July will see $35.2 billion of redemptions, down 13% month-over-month but still 35% higher than 2024's monthly average of $27 billion, said Pat Luby, head of municipal strategy at CreditSights.

By Jessica Lerner

9h ago
Trends in the Regions

Bonds likely necessary to remove or fix ailing, aging Minnesota dam

After the west abutment on the Rapidan Dam partially failed last week, it's up to the Blue Earth County board of commissioners to pursue repair or removal.

By Jennifer Shea

July 3
California

San Francisco Bay Area school district faces a county budget takeover

The Contra Costa County Office of Education gave West Contra Costa Unified School District until July 17 to pass a budget, or have the county office step in.

By Keeley Webster

July 3
Primary bond market

Muni market takes 'breather' with few deals

"With a nonexistent new-issue calendar and heavy dealer balance sheets, we expect the muni market to get a bit 'grabby' over the next few weeks," AllianceBernstein strategists said.

By Jessica Lerner

July 2