> Is that removing liquidity? Not really, it's just decreasing the active injection of liquidity that the Fed has been doing for the past 15 years. I like this

> Is that removing liquidity? Not really, it's just decreasing the active injection of liquidity that the Fed has been doing for the past 15 years. I like this line a lot because it shows that while we like to blame inflation and some of the issues we're having on the Fed's work in 2020, when in reality we have to go back to the Great Recession to understand the full impact of what's been going on. They've been trying to keep the markets happy for 15 years by keeping interest rates low and so, never reverted some of the policies that would have helped when COVID hit the economy. So, they doubled down. Now, the chickens have come to roost and they need to reel back, and hopefully, the markets won't get spooked and it will all be good, as you say.