Here are two important updates from the Fed, and they’re especially interesting when viewed together. The first one is from the Fed’s 'number three,' New York Fed President John Williams, who made it clear that the Fed will 'restart bond purchases (gradual asset purchases).' However, he strongly emphasized that 'this is not monetary easing (not monetary easing),' but rather a 'technical operation' to maintain control over short-term interest rates. But anyone familiar with U.S. financial history knows this is almost identical to the 'Not QE' the Fed initiated after the repo market crash in September 2019. To put it in the simplest terms, the Fed has reached the end of its balance sheet reduction and is preparing to enter the initial phase of expanding it again. Williams’ speech is kind of like saying 'a white horse is not a horse.' He’s just playing word games to claim it’s not quantitative easing, but in reality, QE is just one of many tools for balance sheet expansion. As long as the Fed wants to, they can create countless tools for easing and expanding the balance sheet. After all, the Fed is essentially the god of the U.S. dollar, with the divine power to make things happen just by saying so. The second piece of news is that Atlanta Fed President Raphael Bostic will retire when his term ends on February 28 next year. This means Trump will get another chance to nominate someone who supports his policies. However, the Atlanta Fed President won’t have voting rights in 2026. The new president will have to wait until their turn in 2027 to gain voting rights. But even without voting rights, regional Fed presidents still provide their economic assessments and policy recommendations at every meeting. The market still reacts to their speeches, and with this personnel change, the Fed’s internal hawkish stance on rate cuts will likely grow stronger. That said, both of these updates are medium- to long-term positives. For now, Bitcoin is still dropping, and the crypto market is so weak it’s frustrating. But aside from patiently waiting, there’s really not much else we can do. #Crypto #Bitcoin #Fed #Markets