Blue States Look For Bailout From The Fed : Changes in Central Bank's Ability to Own Long-Term Municipal Debt Eyed By Blue State Interest Groups

Reuters reports:

the Federal Reserve Act limits the Fed’s ability to purchase state and local bonds to those with a maturity of six months or less. The benefits predicted by Grundfest, Lemley and Triantis from a “QE-Muni” will not occur “unless the Fed is able to buy longer-dated muni paper” – which requires an act of Congress.

Just a reminder.