He also said this before and the bump did nothing. The amount that they think is "drastic" is not nearly big enough. It's honestly too late.

They shit the bed with the amount of QE they dumped on the markets. Bonds were propped up, borrowed against, and that money was spent. It almost doesn't matter at this point whether it was incompetence or corruption that lead him to do it (though I truthfully believe the latter). They're never gonna get all the toothpaste back in the tube now.

They can try to use aggressive QT to bring inflation under control, but the amount that they would need to actually put a dent in the problem would suck the bonds markets dry. If bonds go to shit, then a lot of companies go to shit too. Then it's a full blown wildfire of bad collateral and margin calls and banking gridlock just like 2008. One day everything comes to a screeching halt.

If they don't use incredibly aggressive QT, then the inflation eats us all alive and the markets crumble because most americans were already living hand-to-mouth before the pandemic ever showed up. A dozen eggs goes up to six dollars and people are freaking out. It's about to get so much worse...