The Federal Reserve today (2025.12.22) launched liquidity injection operations, but this is by no means quantitative easing (QE).

This time, the Federal Reserve injected funds into the financial system through "repurchase agreements (Repo)" with three core objectives: to hedge against the peak demand for year-end funds, to ensure the smooth operation of the banking system, and to prevent the tightening of reserves caused by the completion of quantitative tightening (QT) along with the migration of money market fund funds, thereby avoiding an abnormal spike in short-term interest rates.

The operational logic of Repo is very clear: the Federal Reserve uses high-quality securities such as government bonds as collateral to release short-term cash to banks; the next day or within a short period, it will repurchase the collateral securities to complete the funding loop. The essence of this operation is to provide "temporary blood transfusions" to the banking system to cope with the surging liquidity gap at the end of the year. $BTC

However, I must emphasize a key signal: from the regular repurchase tool (RMP) of $40 billion per month to the current active increase in repurchase market intervention by the Federal Reserve — this has long exceeded the category of "routine operations" and is a strong warning of the hidden pressure in the financial market. Market anomalies often reveal the truth earlier than data. $ETH #美联储回购协议计划