Why BlackRock Has a Role in the Fed Bond-Buying Spree: QuickTake

As part of its whatever-it-takes effort to reduce the economic pain from the coronavirus pandemic, the Federal Reserve enlisted BlackRock Inc. to direct three of its bond-buying programs. It’s not the first time the government has partnered with the asset-management behemoth, which under the arrangement could buy some of its own funds on behalf of the central bank.