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Fed Chair Kevin Warsh told the House Financial Services Committee on the 14th that any change to balance sheet policy would be announced, explained, and debated in advance, with considerable time before implementation. He stressed the Fed wants to step back from fiscal territory, framing balance sheet strategy around a strict monetary-fiscal separation — a signal that any shift in QT or reserve management will be telegraphed rather than abrupt, which caps near-term liquidity shocks to UST yields and risk assets including BTC. Watch upcoming FOMC communications for concrete balance sheet review language, as an eventual slowdown or end to runoff would be a liquidity tailwind for duration-sensitive and high-beta assets.
As a Macro signal, watch whether it changes price action, volatility, or flows around BTC, GSPC, GC=F.
Original Source: 연합인포맥스
This page is market information analysis, not investment advice.
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