oh, good ... so now every shittily managed city's debt is shouldered by all of us? OR do i have this wrong?https://twitter.com/byHeatherLong/status/1254870462720626688 …
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the market price isn't independent of how many buyers there are, though? like, if the Fed bids on Chicago bonds, how much will they bid, and who decides that? seems like an important question.
>market price isn't independent of how many buyers there are Strictly speaking, no, but it's *mostly* independent. The Fed is just one of many buyers of these assets, and not the biggest. Like saying the price of a Big Mac depends on whether or not you specifically bought one.
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