特朗普阵营施压，美联储政策工具面临根本性变革

Group 1 - A U.S. senator is attempting to strip the Federal Reserve of a key tool for controlling interest rates, indicating potential scrutiny of the tools policymakers use to influence the economy [1] - The senator's efforts, led by Ted Cruz, aim to terminate the Fed's payment of interest on bank reserves, which could significantly alter how the Fed manages interest rates and its large bond holdings [1][2] - Since 2022, the Fed has reduced its bond holdings by over $2 trillion, with estimates suggesting that the reduction will end when its balance sheet decreases from $6.7 trillion to approximately $6.1 trillion [4] Group 2 - The current interest rate control mechanism, established during the 2008 financial crisis, has been criticized for being an unfair subsidy to the financial sector and has led the Fed to shift from profit to loss [2] - Former Fed officials express concerns that losing the power to pay interest on reserves could force the Fed to aggressively withdraw excess liquidity, potentially leading to higher short-term interest rates [3] - There is a divergence of opinions regarding the appropriate size of the Fed's balance sheet, with some suggesting it could be reduced to $5.9 trillion, while others advocate for a more aggressive reduction to curb speculation [4]