Harvard University’s municipal bonds, typically synonymous with stability and affluence, are experiencing disturbing declines, a trend fueled by its contentious clashes with the Trump administration. Once considered the crème de la crème of the bond market, these tax-exempt instruments are now viewed with skepticism, raising alarming questions about the future of this prestigious institution. With
Politics
In an era where accountability and prudent financial planning should be at the forefront of governance, the recent budget maneuverings in Washington, D.C., raise alarming questions about priorities and the long-term health of the district’s finances. D.C. Mayor Muriel Bowser recently presented a proposed budget for fiscal year 2026 that, while technically balanced, relies on
The ongoing skirmish between California and the Trump administration over the state’s vehicle emission rules highlights a deep rift in American political ideology. While California officials staunchly defend their right to impose stricter regulations on vehicle emissions, one must question the wisdom of such an entrenched stance given the backdrop of national policy. The recent
The Federal Reserve has painted itself into a corner, and the committee’s inaction is now reverberating throughout the economy. Federal Reserve Governor Christopher Waller recently confirmed that the central bank will not intervene in the Treasury market, even as we see alarming surges in long-term bond yields. This sentiment reflects a troubling mindset: a resolute
The ongoing debate surrounding the cap on state and local tax deductions (SALT) illuminates more than just fiscal strategies; it unveils the profound disarray plaguing state revenues across the nation. As vigilance in personal income tax collection shows slight gains, corporate and sales tax revenues continue their downward spiral. This inconsistency raises crucial questions about
In an era where climate change and urbanization collude to challenge traditional transportation infrastructure, the funding allocated for public transit remains on shaky ground. The Highway Trust Fund (HTF), integral to supporting public transit, faces a dire outlook as revenue streams are inadequately adjusted to meet the evolving needs of our cities. This trend is
In the ongoing economic turmoil surrounding Puerto Rico, a high-stakes clash between the Puerto Rico Oversight Board and bondholders of the Puerto Rico Electric Power Authority (PREPA) has emerged. Central to this debate is the astronomical $3.7 billion administrative expense claim posited by PREPA’s bondholders as they navigate the waters of bankruptcy. Yet, this is
In recent years, the state of infrastructure in the United States has reached a critical junction, exacerbated by the stringent fiscal realities facing public finance. The Department of Transportation, particularly during the Trump administration, has recognized the need for a decisive shift—a move towards more private investment to rejuvenate public works. With a backlog of
The recent waves of tariffs introduced during the Trump administration have started to threaten an economic fabric that many might overlook—our small businesses. As the Federal Reserve’s Governor Michael Barr pointed out in a speech, these tariffs are not just abstract figures affecting large corporations; instead, they’re tied to the livelihoods of ordinary Americans. Understanding
The abrupt decision by Moody’s Ratings to downgrade Maryland’s standing from a coveted triple-A to an Aa1 rating serves as a vital bellwether for the state’s financial future. The agency cited significant concerns over federal policy shifts and the reliance on federal employment, painting a dire picture of economic vulnerability. This move is more than