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Hutchins Roundup: Male school dropout rates, the Phillips Curve, and more brookings.edu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from brookings.edu Daily Mail and Mail on Sunday newspapers.
Federal Reserve Bank of San Francisco | Climate Risk and the Fed: Preparing for an Uncertain Certainty frbsf.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from frbsf.org Daily Mail and Mail on Sunday newspapers.
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 ....