Buy SPY by Feb 24, 2026.

The Fed’s October rate cut was fully priced in, but the other important development from the last FOMC Meeting: **Quantitative Tightening will officially end on December 1**. After more than two years of shrinking its balance sheet, the Fed will stop draining liquidity and begin reinvesting maturing securities rather than letting them roll off. This matters because QT has been steadily removing cash from the financial system. Over time, bank reserves have slipped from “abundant” to merely “ample,” and stress …