actual Uncle intel - the fed issue

My actual Uncle forwarded a link to me today explaining why things appear one way but act in another regarding the economy...

the gist:

The Fed conducted QE4 from spring 2020 to early 2022, purchasing $4.6 trillion in securities and funding those purchases with a corresponding increase in its liabilities of bank reserves and reverse repos. In effect, the Fed’s balance sheet now appears similar to that of a hedge fund whose long-term assets are financed by short-term borrowing, except that such funds routinely hedge their interest rate risk whereas the Fed’s portfolio is effectively naked.

more at article:

[link to thehill.com (secure)]

so for those of you expecting a crash, maybe maybe not... I guess it depends on how long the ponzi scheme can keep going...

I'm trying to find out when the law changed allowing the fed to do this... Didn't it used to be illegal? Can anyone help explain more?

When it comes to the stock market I just listen to his advice - I don't completely understand it. But in the past that's worked very, very well for us. But lately any put option we've tried that should have netted some very nice returns have remained propped up... now I see why I guess...

Thanks in advance for any info or commentary to help flesh this out...