Fed's credit operation launched, but job already done
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NEW YORK (Reuters) - The Federal Reserve's pledged support for exchange-traded funds may not end up costing the central bank much, but will still have the desired effect of keeping the credit market afloat. As part of an unprecedented stimulus endeavor, the Fed announced it would support the ETF market in March, and on Tuesday launched the backstop.Data on what the Fed actually spent in the first few days of the facility's being open will be visible on its weekly balance sheet published on..