Bessant commented on Warsh's balance sheet reduction policy pace: "The Fed will not act quickly to shrink its balance sheet; it may take up to a year for the Fed to make a decision about its balance sheet." In last Monday's tweet, "Wash's Possible Policy Pace and Path," a detailed analysis was given of the real constraints Warsh faces after taking office and the changes he might make. The final projection of possible paths and paces also mentioned that before the midterm elections, Warsh will most likely continue with the existing pace: Cut interest rates as appropriate based on labor market and inflation conditions Maintain the existing BMP pace Push for the decoupling of the SLR. After the midterm elections, he might consider gradually advancing his proposals, but in a gradual manner. Doesn't this align with Bessant's thinking? 🧐