One should assume that such a risk should be either baked in or avoided. But even if it was calculated it could still mean the Fed behaviour is disconnected from the reality of public markets which they ostensibly serve.
It's a losing battle to fight this on some basis that these Fed/admin hires are just dumb villains and the whole scheme was poorly thought out by their well connected/educated revolving door who runs it.
The fed propping up stuff like mortgages and Wall St bankers gambling then repeatedly using the financial might of the general US market to stabilize it in the short term doesn't necessarily mean the markets they manipulate (ostensibly for the public's benefit) is better off long term. But it does make rational sense when everyone these people speak to is losing their shirt in the short term, and the FUDy doomers come out in the obedient media to say there’s no other choice but propping up the last decade’s status quo.
But once you start looking at historical interest rates, critical markets like mortgages/the many markets run by well connected pet oligopolies/etc, with all the subsequent risk glossed over via eliminating moral hazards... Ultimately critiquing the fed as if their economic structure is not well calculated is not the best strategy.
Like a lot of more extreme political opinions the reality is much more boring and harder to confront if all you do is invent caricatures disconnected from reality. The enemy is much more informed and adaptable than some conspiring backroom dealing elite we all just need to expose and it will all be over.
America’s historical stockpile of wealth and talent can be leaned on for only so long… just like Russia leaning on their Soviet arms stockpile the first time they confront a real threat (aka themselves).