pic.twitter.com/y4VJU4l0Ay

— Jerome Powell (@alifarhat79) November 3, 2021

Interesting that the markets haven't really reacted. I suspect we will see some buying oppurtunites.

To put the new taper program in perspective to the fed balance sheet recent trends.
-It would take 24 years/until 2045 at $15B per month (all else equal) to reduce the balance sheet to Jan 2020 / pre corona virus level of $4.1 T.
It would take 42 years to taper back to pre financial crisis levels of $900 B from August 2008.

And in case anyone forgot just how much $15 billion is - in SEC terms it would be the equivalent of spending the construction budget for Kyle field on every opponent in the SEC every month
- in NASA terms it would be 6 Curiosity Mars missions per month.
- in US Military budget perspective it would be the equivalent of a new Gerald Ford super carrier and 10 F35's per month.