"Beginning in April, the Committee will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from 25 billion to 5 billion." Quantitative tightening (QT) will taper sharply, reducing Treasury securities runoff from 25 billion to 5 billion monthly starting next month, a dovish move signaling liquidity concerns! Great for both crypto and equity markets. Monetary policy has been very tight, the tightest I've seen since I started following markets in ~2010. The fed has significant leeway to loosen up, providing more support for businesses + markets.