Do You Need to See a Decline in the Blue Line?

The blue line is slowly approaching, i its sort of crescendo as a function of the sort of wind down cue. The fet is still buying bondsn adding liquidity to the system through february. If quantitative tightening gets introduced into the mix, you're going to start to see a more material decline in the blue line. I think the confluence of faster than expected grow slow down and inflation could coincide and perpetuate a 20 % decline or something like that.