Managing Editor Paul Greaves, Curation Editor Stephanie Fagnani and Head of Public Policy and Municipal Strategy Tom Kozlik at Hilltop Securities discuss how federal policy and artificial intelligence are reshaping the municipal market.

This episode dives into the evolving dynamics of municipal finance in the face of shifting federal funding and the rise of artificial intelligence (AI). We explore whether federal dollars act as a stabilizer or a source of uncertainty for investors and examine sectors facing structural challenges—like higher education—that amplify these funding shifts. Our conversation also looks at how declining federal support impacts municipal bond supply and demand.

Then, we pivot to AI: why it’s not just a tech story but a public finance story, how it could reshape infrastructure investment, and the opportunities and risks it creates for municipalities.

Finally, we discuss the race between AI adoption and energy infrastructure readiness—and what that means for local governments and investors.