花旗策略师：沃什若执掌美联储，缩减资产负债表将面临重重挑战

Core Viewpoint - The potential nomination of Kevin Warsh as Federal Reserve Chairman may lead to a gradual approach in reducing the Fed's balance sheet to avoid further turmoil in the money markets [1] Group 1: Federal Reserve Actions - The expansion of U.S. government debt and the Fed's ongoing balance sheet reduction have caused liquidity tensions in the market, prompting the Fed to pause its balance sheet reduction and start purchasing short-term Treasury bills to inject reserves into the financial system [1] - Strategies for balance sheet reduction under Warsh's leadership could include shortening the weighted average maturity of held assets, slowing the pace of short-term Treasury purchases, or allowing mortgage-backed securities to mature without reinvestment [1]