A bailout of California?

People are starting to wonder if the Fed will starting buying California’s debt.

I suspect that the Fed will begin to do so, if it has not done so already.

There will be no more large-scale, Congress-approved bailouts. At least for a couple years. However, that doesn’t there won’t be more bailouts. The Fed doesn’t need anyone’s approval to buy assets . . . and California is going to need a bailout.

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