Very interesting, thanks. But if the Fed buys broad ETFs to support the overall index but isolated issuer/sector/whatever prices still fall sharply, is that goo

Very interesting, thanks. But if the Fed buys broad ETFs to support the overall index but isolated issuer/sector/whatever prices still fall sharply, is that good or bad? Like cruise ship bonds really should be falling more than tech bonds, and if the Fed pushes up prices of a broad ETF then the market can still decide that on its own (as long as all the changes over the entire index average out to whatever the Fed is targeting). If the Fed buys individual bonds, then they have to decide the relative amounts that they're going to support each subgroup, which seems a lot more politically fraught to me. I understand the idea that if the Fed sees what they perceive as panic selling in a particular sector then they can intervene just there and get more effect per dollar spent, but that judgment seems a lot more controversial the narrower the group benefiting gets.