"Fed "Ops" Geared for Action, but Soft Data Stalls Tightening Expectations"
In this month's Municipal Strategy Report, we examine how regulatory changes fomented by the SEC have placed the Fed at the center of the money markets, making them an even more essential component. Commercial paper, short and medium term notes, and other features of the pre-crisis system are waning as the Fed uses new instruments to provide market solutions for the excess liquidity of 2a-7 institutions, banks, and GSE, in addition to primary dealers.
Additionally, the MSR features the following:
- In “The Future of New York Infrastructure?” we take a closer look at Governor Cuomo’s $100 billion infrastructure plan, including capital needs for the State as well as major authorities.
- In “State of the States Update” we assess State of the State speeches delivered thus far, including common themes, a comparison to past years and innovative proposals.
- In “Potential Impact of EPA’s Clean Power Plan on Public Power” we provide an overview of Clean Power Plan and evaluate its impact on electric utilities