Will the Quantitative Tightening Caps Increase Over Time?

Most of the, you know, Wall Street research desks that watch the Fed seem to think there will be a ramp up. But short of that, I wouldn't begin to guess on exactly how many months they'll take to run it up. John McGowan: An inverted yield curve when it goes negative is a sign that a recession is on the way. Nick or Joseph, can you explain exactly what Jay Powell meant by that?