• This week, the number of new weekly jobless claims unexpectedly fell to 293,000, according to Labor Department data released Thursday morning. Headwinds to the U.S. economic recovery remain, however.
• These headwinds and falling presidential approval ratings are causing the White House to scramble to save its Build Back Better legislative agenda, among other goals.
• Weakness in the White House is not a positive sign for those who would like to see the municipal bond market friendly elements become law as part of the Democrat’s progressive effort.

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