The Louisiana House passed a bill to limit firms that "discriminate" against the firearms industry from government business. A similar bill was vetoed last year.
Inflation is "absolutely a problem," Yellen told a Senate panel, adding that the hot labor market illustrates the success of aid packages like the American Rescue Plan.
April revenue collections set records in Southwest states as a strong economy and inflation boosted income and sales tax collections, although some officials are urging caution.
The chances of an economic slowdown are rising as the Federal Reserve is poised to take further steps to tame inflation, say the heads of JPMorgan Chase, Bank of America and Morgan Stanley.
In a recent survey, just over half of community bankers expressed concern that the central bank will harm the U.S. economy by raising rates too fast in its quest to contain inflation.
Relative cheapness, wider spreads and underperformance in munis are providing better value, all set against a very solid and resilient credit background, analysts say, but supply is testing investor sentiment amid volatility.
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