The US FED will conduct quantitative tapering for at least 3 years.

Most economists predicted that the rate hike in March 2022 was cast in stone.

They also believed that the rate hikes would continue for at least 3 years (2022 to 2024).

Furthermore, these economists expected the FED to start reducing its assets in the 2nd half of 2022.

All these actions (rate hikes & asset reductions) will cause the GDP to slow down significantly and also cause the stock markets to fall heavily.

As the US will be having its mid-term election in November 2022, it will be unlikely for Biden to hike interest rates near the election.  Therefore, it makes more sense for the US FED to start reducing its balance sheet instead so that this won't affect or ruin Biden's election.