Bold action is called for.

On Tuesday last week (4 January), the markets got spooked by the released minutes of a Federal Reserve Open Market Committee’s meeting held three weeks prior. What was the fuss all about? Well the minutes indicated that the Fed seems to be inclined to envision starting to prepare to begin planning to initiate raising interest rates sooner and more aggressively than previously thought and to “normalize” their balance sheet beginning already toward the end of this year.

"Will the Fed walk the hawkish talk?" By Akrainer, ZeroHedge, 1/9/22.