In a financial landscape that feels increasingly precarious, Federal Reserve Governor Christopher Waller’s announcement that the Fed will not intervene in the Treasury market is both bold and controversial. Amid surging long-term bond yields and tepid demand for U.S. debt, his remarks reflect a commitment to fiscal discipline that many policymakers seem hesitant to embrace.
Politics
In an ambitious attempt to stimulate economic growth, states are grappling with a poignant reality: the cap on state and local tax deductions (SALT) continues to strain budgets that are already stretched thin. Analysis from the Tax Policy Center underscores a troubling trend; while some states are enjoying an uptick in personal income tax revenues,
The landscape of infrastructure funding in the United States is marked by intense political maneuvering and complex negotiations, particularly as the nation grapples with the urgent need for improvements in public transit. Recent discussions have underscored a fundamental concern: the continuing viability of funding mechanisms that have traditionally supported transit systems across the country. With
In the tumultuous waters of fiscal governance, few crises stand out as starkly as the Puerto Rico Electric Power Authority (PREPA) bankruptcy situation. The recent disputes over a staggering $3.7 billion administrative expense claim have laid bare the complexities and contradictions inherent in the relationship between the Puerto Rico Oversight Board (FOMB) and bondholders. As
The infrastructure landscape in the United States is marred by a troubling paradox. The Bipartisan Infrastructure Law, which promises a substantial infusion of $1.2 trillion, stands in stark contrast to the crumbling roads, congested highways, and dilapidated bridges that litter the landscape. While this gargantuan sum seems like it could herald a new era of
In the complex interplay of economics and trade policy, small businesses find themselves navigating treacherous waters. The recent warnings from Federal Reserve Governor Michael Barr have spotlighted the immense pressures placed upon these enterprises by new tariffs instituted during Trump’s administration. Contrary to popular belief that tariffs predominantly affect large corporations, it is the small
The recent downgrade of Maryland’s credit rating by Moody’s from a perfect triple-A to an Aa1 has sent shockwaves throughout the state. Far from being a mere number on a spreadsheet, this type of shift carries real implications that extend well beyond the balance sheet. It serves as a stark reminder that fiscal responsibility is
Aging airport infrastructure is increasingly becoming a pressing issue, and Newark Liberty International Airport is at the forefront of this crisis. The U.S. Department of Transportation, under Secretary Sean Duffy’s leadership, has taken significant actions that highlight the urgency of the situation. With plans in motion to reduce flight schedules and launch an extensive overhaul
In an era marked by fiscal recklessness, the House Ways and Means Committee has positioned itself at a critical crossroads with its preliminary draft of the tax bill, boldly touted as part of their “big beautiful bill.” This isn’t merely a proposal; it’s a declaration that could have profound implications for American taxpayers, our economy,
The public power sector is experiencing a seismic shift, transitioning from conventional funding methods to innovative systems facilitated by programs like elective pay. This transformation, primarily set in motion by the Inflation Reduction Act, allows publicly owned power companies to convert tax credits into cash. With the implications tied closely to the revival and support