[Wash: Working Group May Propose Balance Sheet Recommendations Early in Q1] Golden Finance reported on October 29th that Federal Reserve Chairman Warsh stated on Wednesday that the balance sheet working group's recommendations may be released in the first quarter of 2027. Warsh said, "Currently, the balance sheet issue is entirely the responsibility of the balance sheet working group. Their recommendations will be discussed by the Federal Open Market Committee (FOMC) early in the first quarter, but this timeframe should not be considered a definite arrangement." Warsh stated that policymakers will only begin to seriously consider the recommendations after the working group presents its proposals. In July, Warsh announced the formation of five working groups to study several key aspects of policymaking, including inflation and communication strategies. However, for investors, the balance sheet assessment may have the greatest impact. Led by former Federal Reserve Governor Jeremy Stein, former Reserve Bank of India Governor Raghuram Rajan, and Harvard University economics professor Karen Dynan, the working group will study how to reduce the Federal Reserve's influence in the market, a long-standing policy focus for Warsh.