Let& #39;s call a spade a spade: Friday& #39;s Fed announcement was a bank bail out.
Why? Because bank stocks got crushed in 2020, and they lagged significantly even on the recent bounce.
The Fed& #39;s actions to date had not been enough.
Check $BKX the bank index versus the others.
Chart 1:

So then the Fed comes in with their package including buying of junk ETFs.
Who benefits the most? The intended target of the package of course: The banks.
Check $BKX month to date.
Chart 2:

So they can sell this package to the public anyway they like.
The reaction in markets makes it clear what it really is: A bank bailout.

For some reason I’m thinking it’s Saturday https://abs.twimg.com/emoji/v2/... draggable="false" alt="🙄" title="Face with rolling eyes" aria-label="Emoji: Face with rolling eyes">https://abs.twimg.com/emoji/v2/... draggable="false" alt="😂" title="Face with tears of joy" aria-label="Emoji: Face with tears of joy">