The first thing the new Fed Chair Kevin Warsh did after taking office was to inject liquidity to save U.S. Treasuries. He definitely won't use obvious tools like QE for this, but will likely create a new liquidity tool, similar to last year's RMP. Powell also didn't admit that RMP was injecting liquidity. Kevin Warsh is also unlikely to admit to injecting liquidity, but the Fed's balance sheet will continue to rise, which essentially means printing money and injecting liquidity.