The Bond Buyer

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"I believe the data on economic activity, the labor market, and inflation support moving policy toward a neutral setting," Waller said. "Based on the median of FOMC participants' estimates of the longer-run value of the federal funds rate, neutral is 125 to 150 basis points lower than the current setting."

"That money can be put to good use and we intend to do exactly that — reducing our outstanding debt to improve the fiscal health of the state," North Carolina Treasurer Brad Briner said.

"The Met is a pretty expensive product," Moody's analyst Debra Roane said. "The sets, the salaries. And all of that has to be at a certain quality to attract attendees and donors."

"This special session was necessary to address the threat H.R.1 has on schools, health care and roads, and I'm proud of our partnership with the General Assembly to get this done," Colorado Gov. Jared Polis said in a statement.

If the transit system that serves Philadelphia, the Southeast Pennsylvania Transportation Authority, can't secure funding, the resulting economic damage could flip the city's economic trajectory.

The sale is a win for bondholders, who have seen debt sold by Metropolitan College slashed deep into junk by Fitch Ratings. The school's municipal bonds were secured in part by a mortgage on the condominium units at 40 Rector Street, as well as college revenues, according to a 2024 report by the ratings company. Metropolitan College put the real estate on sale last year as part of a forbearance agreement with investors.

"While we are disappointed in Moody's decision to change Legacy Health's rating — we are not surprised," said Vicki Guinn, a Legacy spokeswoman. "The external environment remains highly complex for all healthcare organizations, particularly in Oregon and Washington."

Today’s top stories include: Transit cuts may harm Philadelphia economy; Oregon’s revenues shrink; Closing Colorado’s budget gap; Metropolitan Opera downgraded; and North Carolina’s found money may pay down debt. #municipalbonds #muniland

"You have to love it when a plan comes together," said Art Hogan, chief market strategist for B. Riley Wealth. Personal consumption, expenditure and income figures were "right down the middle of the fairway. This leaves the door wide open for the Fed to cut rates in September and likely again in October and in December."