I think that's an accurate statement. The transfer would be the delta between what the Fed buys that debt/equity for and what it sells it for later. At the sam

I think that's an accurate statement. The transfer would be the delta between what the Fed buys that debt/equity for and what it sells it for later. At the same time, it could also be accurate to assert that without some organization propping up the economy, short term losses, and possibly long term harm, would greatly exceed whatever the delta ends up being on the Fed's purchases/sales.