Blackrock contracted by the FRB to buy ETF's
Like the ones they are custodian and issuer of.
Basically the Fed is now the defacto biggest 'lender' to the corporates and by buying the same shit they have issued they cut out the middle man.
The Fed Is Buying ETFs. Now What?
https://www.kiplinger.com/article/investing/t022-c009-s001-the-fed-is-buying-etfs-now-what.html