Now we know.

The fed hasn’t started to end QE yet. In fact, it hasn’t even set a date to start the taper. All the fed’s money printers have done is admit that they have begun to discuss when to think about a time for the start of tapering $120b per month in asset purchases.[1]

And that’s definite.

And then there’s that healthy return to normal that’s just around the corner:

The simple truth is, asset values and debt levels have grown to become such enormous monstrosities that they prohibit the tightening of monetary policy much at all before the entire fragile and artificial edifice collapses.[2]

Or not.

[1] “Michael Pento: How Central Banks Murdered The Markets.” By Michael Pento, ZeroHedge, 6/30/21.
[2] Id.