Fed will have 10 days to begin municipal bond purchases

The Federal Reserve will have up to 10 days after President Trump signs the $2 trillion Coronavirus emergency relief bill to start voluntary purchases of municipal securities through a new Economic Stabilization Fund.
Emily Brock, director of the federal liaison center for the Government Finance Officers Association, said that Federal Reserve officials are hoping to begin muni purchases before the 10 days fully elapse.
The House planned to send that legislation to the White House Friday.
(Read more: The Bond Buyer)