Powell 暗示 QT 可能数月内结束，警告撤销 IOR 或引发市场动荡

Core Insights - Federal Reserve Chairman Jerome Powell indicated that the asset balance sheet reduction plan may conclude in the coming months due to the recent strengthening of overnight financing rates, prompting a reassessment of the progress of Quantitative Tightening (QT) [1] - Powell warned that if Congress were to eliminate the Interest on Reserves (IOR) mechanism, the Federal Reserve could lose effective control over short-term interest rates, potentially leading to a forced large-scale sale of Treasury bonds or mortgage-backed securities (MBS), which could threaten market stability [1] Group 1 - The asset balance sheet reduction plan may end soon due to rising overnight financing rates [1] - The Federal Reserve is reassessing the progress of Quantitative Tightening (QT) [1] Group 2 - Powell cautioned about the risks of Congress removing the Interest on Reserves (IOR) mechanism [1] - Loss of control over short-term interest rates could lead to significant market instability [1]