In this episode of Where Public Finance Works, Justin Marlowe, esteemed faculty member at the University of Chicago’s Harris School of Public Policy, returns to share his insight on important shifts within the municipal market. Following where we left off in Part 1, Justin takes us through the current renaissance in public finance, celebrating the unleashing of expertise across all levels, from CFOs to billing clerks. He emphasizes the expectation for these professionals to not just execute tasks but to actively engage in policy-shaping discussions, highlighting the shift from static fund allocation to dynamic, informed decision-making that impacts policy and community development.
Join our host, Tyler Traudt, as he and Justin discuss the significant role of the Inflation Reduction Act (IRA) in shaping new financial models, particularly in clean energy, and the intricate dance of managing tender offers in municipal bonds.
Justin also sheds light on the pressing workforce challenges within public finance, marking the need for a diverse skill set in the era of AI and technological advancements. He shares valuable insight into innovative approaches to recruitment and development, recognizing the potential of talent with non-traditional backgrounds enriching the public finance workforce.
This episode not only underscores the transformational power of federal funding and the consequent responsibilities but also showcases public finance as a robust, adaptable field, rising to meet the complexities of a changing world. One undeniable trend is the internationalization of state and local public finance when you talk to borrowers today.
Featured Guest
Justin Marlowe is a Research Professor at the University of Chicago’s Harris School of Public Policy and co-hosts the popular podcast “The Public Money Pod.” His teaching and research are focused on state and local government budgeting, finance, and financial management. He has published five books – including the forthcoming Public Debt Management: Strategy and Evidence – and dozens of articles on the municipal bond market, infrastructure finance, governmental accounting, and local fiscal policy.
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