Time for QE?

SAN FRANCISCO (Reuters) - U.S. central bankers are currently debating whether it should confine its controversial tool of bond buying to purely emergency situations or if it should turn to that tool more regularly, San Francisco Federal Reserve Bank President Mary Daly said on Friday.

The situation in California is worse than we thought.  QE extracts the equivalent of a bond traders' tax, and the Fed is going to raise that tax.  The tax is used to pay for federal goodies because California i not going to have tax revenue for the Swamp this year, it all needs to sty home and cover Gavin's current bailout, which is enormous.

Suggestion. The Swampers need to do a tax negotiation with Gavin now so we can estimate the wealth tax split.  Gavin's got the wealthy liberals on the hook for a major tax increase, and a fight for California taxes may not work to the Swamp's advantage.