US & Canada round-up: Yellen: confident in the US economy, and more

29 May 15

A round-up of recent public finance stories from the US & Canada you might have missed.

Yellen: confident in the US economy, said interest rates will be raised this year

Federal Reserve chair Janet Yellen made it clear that the central bank was poised to raise interest rates this year, as the US economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned. (Merco Press)

Canada’s economy out of the woods? Think again

The state of Canada's finances is back in focus this week with economists questioning whether the country has managed to combat a worrying rise in private debt. (CNBC)

Illinois’s democratic budget wouldn’t reduce Medicaid, local government spending; small cuts to higher ed

A plan Illinois Democrats are proposing as an alternative to the steep cuts sought by Republican Governor Bruce Rauner would keep budget levels flat for local governments and Medicaid and only modestly reduce higher education assistance, committee leaders said Tuesday. (Associated Press via Daily Journal)

Wisconsin State Assembly panel plans action on prevailing wage repeal

A controversial push to repeal Wisconsin’s prevailing wage law is getting a quick hearing and vote from a legislative committee. (Wisconsin Radio Network)

Borrowing to replenish depleted pensions

FEATURE: Facing a shortfall of more than $50bn in his state’s pensions, and with no simple solution at hand, governor Tom Wolf of Pennsylvania is proposing to issue $3bn in bonds, despite the role that such bonds have already played in the fiscal woes of other places. (NY Times)

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