The Fed's Decision to Buy Junk Debt ETFs

In the corporate debt market, when you drop below investment grade, you're basically called some like a fallen angel. And so that was a way for them to sort of get in there and do that. But then Powell has to make this even more controversial decision, which he did on April 9th about backstopping essentially the junk debt market by agreeing to purchase those junk debt ETFs. That's something you can't unsee.