Fed Chair Jay Powell said he was going to pursue rate normalization (aka, letting rates rise). And he seems to be a man of his word: The Fed today deccreased their balance sheet by $17+ billion.
$9.6 billion was due to maturing Treasury notes and $9.3 billion was due to agency mortgage=backed securities (Agency MBS)/
On the other hand, The Fed once again bought $1.8 billion of TIPs.
Here is a chart showing the SOM Holdings:
Here is Fed Chair Jerome “Jay” Powell reciting Shakespeare’s Hamlet: “I must be cruel only to be kind; Thus bad begins, and worse remains behind.”