Federal Reserve Chair: Any Changes to Balance Sheet Policy Will Be Announced in Advance

Odaily Planet Daily News Federal Reserve Chair Warsh stated during a House hearing that the Fed is committed, capable, and responsible for fulfilling the tasks assigned by the board, and will adhere to its duties and stay away from politics. The multiple working groups he established are currently in the investigation phase. External working groups will first share the investigation results with policymakers and conduct public discussions. He has instructed the working groups to return to first principles. The balance sheet is part of monetary policy, and any changes to balance sheet policy will be announced in advance. The Fed must do its job well to avoid fiscal policy interference. The balance sheet framework has undergone significant changes, and the Fed is honored to be an independent central bank. He understands that in times of crisis, the central bank needs to intervene in the market.