What Happens When the Fed Turns OFF the Tap?

The Federal Reserve and other central banks had printed trillions but what happens when they turns off the tap?

MSCI EM Currency Index (MIEM00000CUS) - Investing.com
https://www.investing.com/indices/msci-intl-em-currency
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Tide about to turn for markets as easy-money decade ends
https://uk.reuters.com/article/uk-global-markets-cbanks-analysis/tide-about-to-turn-for-markets-as-easy-money-decade-ends-idUKKBN1L11HJ
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