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Remarks by Under Secretary for Domestic Finance Nellie Liang at the Central Bank of Ireland Conference on Macroprudential Policy for Investment Funds marketswired.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketswired.com Daily Mail and Mail on Sunday newspapers.
<p><span>Thank you very much for inviting me to be part of the H. Parker Willis Lecture Series. As you know, Dr. Willis was a distinguished professor here at Washington and Lee University. Among many other accomplishments, he helped create the Federal Reserve System. He served as the first secretary to the Federal Reserve Board from 1914 to 1918 and later as the first research director.</span></p> ....
The Impact Of The Pandemic And The Feds Muni Program On Illinois Muni Yields We estimate a simple model in which variations in Illinois daily municipal bond yields are explained by high-frequency indicators summarizing economic and public health conditions in Illinois, as well as key changes in the Federal Reserve’s Municipal Liquidity Facility (or MLF). We find that the MLF appears to have reduced Illinois muni yields by more than 200 basis points. The Covid-19 pandemic put finances of states and municipalities across the country under severe stress. This stress derived both from reductions in revenues associated with lower economic activity and increased demands on public health and social safety measures. State and local governments have received substantial federal support through the CARES Act. They have arguably also benefited from the establishment of the Federal Reserve’s Municipal Liquidity Facility (MLF) - announced on April 9 to address the liquidity needs o ....