Fed expands municipal bond program

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The Federal Reserve announced the expansion of its municipal bond-buying program.

States will now be able to allow some cities, counties and other debt issuers, such as mass transit systems, to sell debt to the Fed.

Announced in April, the program previously called on the Fed to buy debt only from cities with populations of 250,000 or more and counties with populations of at least 500,000.

Read more from The New York Times.