So a year ago the RRP slush fund was at $2.3TN so oops, guess the Fed won't need to do QE after all. In fact QT just kept on going. Well the slush fund is down nearly a trillion bucks now and $1.4TN is still a hefty sum but it can't be counted on go to fill a sudden hole like SVB. The Fed and FHLB dumped $700bn there however and presto, problem solved. I don't see why we can't have another year of the same. The same being no need to start QEinfinity. Eventually there is going to be QEinfinty we can agree? Right? Besides nobody is against it. Hell, I'm not sure I'm against it.