Quantitative Tightening

Relax said the night man
We are programmed to receive
You can check out any time you like
But you can never leave
--The Eagles

Quantitative easing (QE) constitutes central bank bond buying to force long-dated interest rates lower (and provide a buyer for government and agency debt). Peter Schiff suggests that the unwinding of QE, i.e., when central banks unload bonds from their balance sheets, should be called "Quantitative Tightening."

I suppose, although I'd wager that we're much more likely to see more QE before any QT.