I'll send you a text psychopharmacologyupdate.com Looking back at the last month, it seems evident that we moved through a policy inflection point.  Eventually, improving economic activity would prompt the Federal Reserve to begin normalizing policy.  To be sure, the process is not likely to be quick, but it will happen. As labor markets improved, housing prices rose, and asset prices climbed, policymakers would start to believe that the costs of quantitative easing would be rising relative to the benefits.   Thus the first stop on that journey to normalized policy would be to scale back the pace of asset purchases.