[quote=spdrun]No, I actually meant the “Fed” — correct me if I’m wrong, but as the bank of last resort, they can buy any bonds including STATE-issued infrastructure bonds.
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Are you aware of any state or municipal infrastructure bonds that have gone unfunded? Any instances of bonds being approved for issuance, and issuers cancelled because they couldn’t sell the bonds (effectively, couldn’t borrow the money), or because the interest rate was too high? If not, how would the fed buying bonds on the secondary market change anything?
