The rating agency expects a 'sudden and severe decline in the city's sales and income taxes' as a hit to the city's budget and economy from the coronavirus crisis.

Coronavirus-led fears are leading investors, particularly retail, to cash once again amid uncertainty surrounding how much and what maturities of municipal bonds the Fed will purchase once its program begins.

Federal Reserve Bank of Boston President Eric Rosengren said the roll-out of a new lending program for small-and-medium-sized U.S. companies may still be “another couple” of weeks away.

The nation's second-most-populous county is factoring in a recession as it runs fiscal models on COVID-19's impact and is banking on federal aid for hospitals.

Lawmakers missed a March 31 deadline to pass an on-time fiscal 2021 spending plan and officials said that the finalized budget might have $10 billion less in state funding to account for expected losses in tax revenues.

The package calls for reinstating advance refunding, Build America Bonds and tax credit bonds.

Ron DeSantis says he won’t trim or sign the 2021 state budget yet, but on Wednesday issued a statewide order limiting movement to essential services.

In a letter, three issuer groups made specific recommendations to the Federal Reserve and Treasury.