Milan: The Federal Reserve needs to reduce its balance sheet, but the process is slow

According to Jinshi reports, Federal Reserve Governor Mian stated that the Federal Reserve's balance sheet needs to be reduced, but this should not exclude the possibility of large-scale asset purchases during an economic crisis. He pointed out that reducing the balance sheet will decrease the Federal Reserve's influence in financial markets and provide more options for future crises. Mian emphasized that although he supports the reduction plan, this process cannot be completed immediately and many regulatory hurdles must be overcome.