The Federal Reserve pivoted from quantitative easing to quantitative tightening, raising interest rates from near zero to over 4% by the end of 2022.
"The Federal Reserve was forced to stop its quantitative easing policy of buying mortgage back securities and treasury bonds... Instead, the Fed had to pivot and lower inflation by raising interest rates and selling off their assets, which is part of something called quantitative tightening. That's when rates went from effectively zero at the start of 2022 to over 4% by the end of that year."
