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Supporting the municipal bond market


I hear the Feds are going to assist the municipal bond market with $500 billion or more of purchases. Has it happened yet?



James A. Klotz responds:

The Federal Reserve announced last month it would buy $500 billion of municipal debt; details are still being worked out.

However, reports say House Democrats are putting the finishing touches on their next response to the pandemic.

The bill being drafted by Democratic leadership is expected to include more than $750 billion in aid to state and local governments.

No details have been disclosed yet.

We’ll keep everyone posted.

May 12, 2020

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