The Fed's Most Important Shift Isn't in the Headlines скачать в хорошем качестве

The Fed's Most Important Shift Isn't in the Headlines

Media headlines have focused on rate cuts and political narratives — but the most significant shift in U.S. monetary policy may have gone largely unnoticed. In December 2025, the Federal Reserve executed its most meaningful pivot in at least six years: it ended quantitative tightening. For the past 3–4 years, the Fed had been withdrawing liquidity at a historic pace — shrinking its balance sheet even while signaling eventual easing. That stance has now reversed. The Fed has shifted from removing roughly $50 billion per month to injecting approximately $40 billion per month into the financial system. This matters. Balance sheet policy often impacts economic activity and asset prices more directly — and with shorter lags — than interest rate signaling alone. Liquidity conditions can drive markets well before rate cuts fully transmit through the economy. At the same time, real-time inflation data suggests price pressures have normalized, providing policymakers room to add liquidity without destabilizing inflation expectations. Economic fundamentals remain constructive: Solid GDP growth Positive real wage gains An expanding labor market Taken together, the U.S. economy appears to be in the early stages of a new liquidity-driven cycle. Historically, liquidity-sensitive assets respond first in these environments — and recent market behavior suggests the shift may already be underway. For investors, the evolving policy backdrop may support a constructive portfolio stance positioned to benefit from improving liquidity and potential economic acceleration. Subscribe for more insights and market updates from Miller Value Partners #FederalReserve #FedPivot #LiquidityCycle #MonetaryPolicy #Markets #Investing #WealthBuildling #AssetAllocation #PortfolioStrategy #FinancialAdvisors #RIA #CFA #EconomicCycle For informational use only. Not investment advice. ©2026 Miller Value Partners LLC