Fed testing simple three-way reverse repurchase transactions

The Fed has pumped well over $1T into the economy it eventually has to pull out in such a way inflation doesn't get too bad. Ha ha ha.

They've come up with a simple transaction they are going to test on a limited basis according to Bloomberg:

The transactions will be conducted at current market rates, and the aggregate amount outstanding “will be very small relative to the level of excess reserves,” today’s announcement said. The results will be posted on the New York Fed’s Web site and will be listed as liabilities on the Fed’s consolidated balance sheet statements.

The New York Fed said on Oct. 19 that it was working with market participants on how it would use reverse repurchase agreements to help drain cash. It also said the central bank was considering expanding the counterparties for reverse repo operations beyond the 18 primary dealers.

Sounds simple enough doesn't it? What's the worse that could happen? The economy is either the worst since 2008 or inflation explodes way more than it did in the 70s.