Jack Lew tightened, not Janet

This is what the Fed has been doing, selling the green line, long bonds; and buying the purple line, short term securities.  
This started in early 2016.  The Fed did this because Congress was running out of money, no one wanted to borrow at Italian debt levels, and so Jack and Janet jumped on the short term, Jack selling, Janet buying;  and this kept interest costs down so Congress would not shut down.

Then the Republicans decided, as always, that Italian debt levels were just fine (Dick Cheney and miracle economics). In fact, there was a public discussion about doing this with Larry Summers, and hearings in Congress about  the shortage of liquidity in the government accounts,  So, voters, your pals in the Swamp voted for Italian debt and growth levels, a mere 1.3% growth rate.