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Chicago announces first Medal of Honor recipients


Provided
When youth activist Zair Menjivar first got the mysterious email inviting him to join a Zoom meeting with Mayor Lori Lightfoot’s office, he thought it was junk mail.
Then he received a text message from someone at the mayor’s office informing him it was serious.
Menjivar, an 18-year-old high school senior, learned last week he is the youngest person to receive Chicago’s Mayoral Medal of Honor.
The new award is the first of its kind and will honor 18 organizations and individuals that have contributed time, money and effort to help communities throughout the city struggling during the pandemic. A ceremony will be live streamed April 20. ....

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The Impact Of The Pandemic And The Feds Muni Program On Illinois Muni Yields


The Impact Of The Pandemic And The Feds Muni Program On Illinois Muni Yields
We estimate a simple model in which variations in Illinois daily municipal bond yields are explained by high-frequency indicators summarizing economic and public health conditions in Illinois, as well as key changes in the Federal Reserve’s Municipal Liquidity Facility (or MLF). We find that the MLF appears to have reduced Illinois muni yields by more than 200 basis points.
The Covid-19 pandemic put finances of states and municipalities across the country under severe stress. This stress derived both from reductions in revenues associated with lower economic activity and increased demands on public health and social safety measures. State and local governments have received substantial federal support through the CARES Act. They have arguably also benefited from the establishment of the Federal Reserve’s Municipal Liquidity Facility (MLF) - announced on April 9 to address the liquidity needs o ....

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