U.S. Department of Agriculture (USDA) Secretary Tom Vilsack and White House Domestic Policy Advisor Susan Rice today announced a new whole-of-government effort led by USDA to transform the way federal agencies partner with rural places to create economic opportunity in rural America. The USDA-led Rural Partners Network (RPN) is an all-of-government program that will help rural communities access government resources and funding to create jobs, build infrastructure and support long-term economic stability. Today’s announcement is part of the Biden-Harris Administration’s Building a Better America Rural Infrastructure Tour, during which Biden Administration officials are traveling to dozens of rural communities to talk about the impact of Bipartisan Infrastructure Law investments, as well as President Biden’s broader commitment to ensure federal resources reach all communities in rural America. Secretary Vilsack and Ambassador Rice are in Mississippi with Congressman Bennie Thompson (MS-2) to meet with community leaders and stakeholders who will benefit from RPN in Clarksdale and Greenwood, Mississippi.
Source: USDA

Two Federal Reserve officials made the case on Tuesday for ongoing interest rate increases to combat inflation, but said uncertainty over the economic outlook makes it hard to say how aggressive the central bank will need to be. Federal Reserve Bank of Chicago President Charles Evans said in an appearance in New York that he sees the federal-funds target rate reaching around 2.25% to 2.50% by the end of the year, which could include a couple of half percentage point increases. Speaking on CNBC, Atlanta Fed leader Raphael Bostic said it is important for the Fed to get to a neutral funds rate “in an expeditious way.” … Mr. Evans said he doubts the Fed would need to increase rates by more than 50 basis points in a single shot. On Monday, St. Louis Fed President James Bullard, an FOMC voter and one of the earliest supporters of raising rates aggressively to get inflation under control, said he can’t rule out an increase of 75 basis points, though he doesn’t expect one of that magnitude. Mr. Bostic also cast doubt on the need for a 75 basis point rate increase, saying that “any action is actually possible, although it’s not something that’s really on my radar right now.” Mr. Bostic said he sees the fed-funds rate at around 1.75% at year-end, which is lower than what many other Fed officials view as likely.
Source: Wall Street Journal

Kristina Cullison, a kindergarten teacher at USD 249, and Kari Cronister, a professor at Pittsburg State University, approached the Frontenac City Council Monday evening about starting a new child care facility in the city. Citing the 127 available childcare spots in Frontenac, spread out across three separate facilities, Cullison and Cronister said there is a need for more. According to a presentation by Cronister and Cullison at Monday’s council meeting, 6.4 percent of the city’s population is age five and under, so out of a population of 3,413, approximately 218 children are under the age of five. Given the amount of available childcare space in Frontenac, that leaves 81 children who are not being served. This does not include children from surrounding communities.
Source: Morning Sun

As of Tuesday afternoon, masks are no longer required on public transit in Salina. Following the direct orders of KDOT, OCCK dropped the company’s mandatory mask rule. A federal judge in Florida on Monday ruled that a 14-month-old directive from the Center for Disease Control and Prevention was unlawful. … On Tuesday afternoon, the Kansas Department of Transportation informed OCCK that masks were no longer required on public transportation.
Source: Salina Journal

The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.