The Fed's Decision to Buy ETFs

The Fed didn't really want to have to buy ETFs. That's sort of icky, right, BlackRock was running this program for them. It's just not a good look at all. So they created their own bespoke sort ofETF, their bond market index and had a whole formula for how they were going to toggle it up if conditions deteriorated. And the market loved it. Those prices just went to the moon after the Fed did that.