Michelle W. Bowman was sworn in Monday as a member of the Board of Governors of the Federal Reserve System, the Fed announced.
The oath of office was administered by Fed Chair Jerome H. Powell. Bowman was accompanied by her husband and her two children.
Bowman was confirmed by the Senate on Nov. 15.
"With the initial announcement proving to be more aggressive than expected, the market responded overwhelmingly negatively, with stock futures trading lower and the U.S. dollar weakening further," said Seema Shah, chief global strategist at Principal Asset Management. "U.S. Treasuries have rallied … as the market tries to digest the conflicting growth and inflation impacts."
As the market absorbs the effects of the tariff rollout industry analysts are predicting a heavy dose of uncertainty in several key sectors of the municipal bond market.
Tolling on the Belle Chasse Bridge is expected to start Tuesday.
At noon Thursday, muni yields had been bumped up to 12 basis points, depending on the curve, while UST yields rallied, with yields falling 13 basis points on the short-end.
Alpine School District, which will be split into three systems, wants to sell up to $238 million of lease revenue bonds to finance school construction.
Transportation Secretary Sean Duffy said there are about 3,200 announced projects that are awaiting formal grant funding agreements, 950 of which were announced right before President Donald Trump took office.
