How is the fed subsidizing inefficient businesses? If you are referring to their corporate bond purchases, they have bought a mere 1.8 billion dollars worth [0] representing a minuscule 0.025% of their balance sheet and it's not like the corporations get free money from that, they still have to pay off the bonds. They are by far mainly buying our own government's debt through US treasury securities and the mortgages on US citizens houses through Mortgage-backed Securities as stated in the article. You can see their balance sheet right here [1].

[0]: https://www.marketwatch.com/story/feds-balance-sheet-tops-7-...

[1]: https://www.federalreserve.gov/releases/h41/current/h41.htm#...