#crypto news

🏦 Federal Reserve | Warsh taking office did not mean a sharp shift in policy

🔹 Morgan Stanley said:

Even with Kevin Warsh as chairman, Fed stance unlikely to change quickly

• Critical constraints:

-The banking system was highly dependent on a high reserve environment

-Further balance sheet reduction will push up short-term interest rate fluctuations

• About MBS:

-Passive reduction of holdings was extremely slow

-Halving may take nearly 10 years