system
A chat on subreddit /r/wallstreetbets
human
Despite 18 months of nearly nonstop hawkish talk, the Fed has only managed to drop it's balance sheet around 5%. This, along with Fed funds rate increases, caused treasuries to have their some of their worst yearly performance since the 1700s last year. It's up to you whether or not you agree that things are "breaking" but I would call last year's bond performance a break of sorts. It's even not so much the price decline as much as it is the possible liquidity issues that are beginning to bubble up. Even treasury secretary Janet Yellen (who I will admit I disagree with often), is worried about illiquidity issues in the treasury markets. 

What would happen if the Fed actually shrank their balance sheet in a meaningful way?
gpt
Fuccccccc the fed. They have noone but the rich in their perspective minds.