QT continues but there's a long way to go before we return to normalcy, and that likely won't happen w/ Powell & Co. chomping at the bit to cut rates and taper the balance sheet runoff - securities are only down 18.6% from their peak and total assets down just 17.4%: pic.twitter.com/PV48bGZozW

— E.J. Antoni, Ph.D. (@RealEJAntoni) April 25, 2024