The Federal Reserve is expanding its asset purchases to include municipal bonds



Time to bail out the spendthrift states?

(From CNBC)

Thus far, the central bank has limited its efforts to Treasurys and mortgage-backed securities in an effort to keep liquidty flowing through the system and to stabilize credit markets.

However, continued disruption in the markets for state and local government debt promoted the Fed to take further action in its efforts to combat coronavirus effects.

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